Christian wrote a nice article about carbs and when to eat them. http://www.t-nation.com/readTopic.do?id=811783
It's worth a read.
As it happens I use a 2-split at the moment and my aim is to do it twice a week, but this sometimes doesn't happen because of job-commitments.
Anyway, this is how it goes. I do 4 sets on every exercise and the work-out should be completed in about 1 hour. Also, I mix one muscle group with another (preferably an antagonist). So pecs are mixed with upper back, 1 set of bench press, 1 set of seated row, repeat 4 times: this is 4 sets of bench press / seated row.
day 1: pecs, upper back
bench press / seated row
incl. bench press / cable pull down
triceps & biceps: cable push down / concentration curl (usually I can squeeze out 2-3 sets before my time is up, I'm pretty strict about the 1 hour limit.)
day 2: posterior chain / legs
Romanian Deadlift / seated calfs
Hyperextension / abs machine
followed up by weighted crunches
day 3: shoulder rehab & half an hour of cardio
day 4: chest & upper back
incl dumbbell press / assisted pull up
dumbbell press / seated row small grip
triceps & biceps: dumbbell triceps extension / hammercurl
day 5: posterior chain / legs
good morning / standing calfs
wood chop / shrugs
day 6: shoulder rehab & half an hour of interval cardio
day 7: rest
I'm not saying you should copy this workout. It's only meant to show that you could do about 5-6 exercises with 4 sets in 1 hour when you take 1 minute rest in between. Reps are 6-12. Extra reps don't take much time, unless you want to do a load of them.
So you can expect to perform 20-25 sets in 1 hour (if you include up to 10 minutes of warming up) with about 1 minute interval between the reps.
That's why a recommend compound exercises that target "area's" instead of specific musclegroups.