aaron_do
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Hi,
normally it depends on the communications protocol. For a digital comms system, there is usually some time allocated for AGC settling, PLL locking etc. In your case, there may not be a standard, it may be simply a competition between your design and competitor designs.
All that said, for FM, as I've mentioned before, the amplitude of the signal isn't very important. You can probably design your system with a limiting amplifier at the end. That will make the settling very fast, and the AGC will really just be for optimizing the SNR or power consumption. I suggest reading some papers on FM receiver ICs so you can see what the overall system looks like.
Aaron
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