Warranty repair wait times - serious industry problem??

Three months is not bad, relatively-speaking. If you have fine watches, waits of 9-12 months for manufacturer's service are common.

Rolex started a tuition-free training school for watchmakers in Lititz, Pennsylvania because the numbers of trained (and qualified) watch repair technicians was concerningly low, low enough to jeopardize the market for their products in North America. After sales service in that small industry has been constrained by manufacturers that will not sell parts to third-party service companies but who themselves are unable to provide timely service to their customers. And the charges for those services are not low. Audio isn't much different. Service of older gear works against sales of new gear, so there is a disincentive to make out-of-warranty service fast and convenient, whereas in-warranty service requires speedy and correct work to honor the contract of the warranty and the reputation of the maker.