The group of East Midlands councils suggest 1h54 to Sheffield after electrification.
http://www.emcouncils.gov.uk/write/Upgrading-and-electrifying-the-Midland-Main-Line.pdf
Improvements to enable higher line speeds scheduled to be delivered by 2014;
Line speed improvements and electrification of the line from Nottingham to Chesterfield via Langley Mill;
Line speed improvements and additional electrification to in-fill the gaps on selected routes between Sheffield and Leeds;
Accommodating train lengthening for high speed services (up to 11 car formations), which will be realised through procuring an extra 13 train units;
Derby station track re-modelling;
Dore Junction re-doubling;
Further line speed improvements at Market Harborough;
Upgrading Sheffield Station, including track remodelling;
platform extensions to enable longer trains;
Re-signalling and track remodelling in the Leicester area; and
Electrification of the line from Bedford to Sheffield via Leicester and Derby, Trent Junction to Nottingham, plus Kettering to Corby.