I was taking a look over my old answers, and it appears for this one I qualify for the Populist badge, i.e. my answer has more than twice the upvotes of the accepted answer, and the accepted answer is at least 10 points, and has been for a while I guess. Does anyone know what the latency in awarding badges is? Does it vary from badge to badge?
The latency depends on the badge. There are scripts which check if the condition for the badge(s) are met and award them. Sometimes the rules of a badge are actually slightly different than it is described and then there might be some internal time limit, i.e. you might need more that twice up-votes then the accepted one for a certain time in order to make sure it isn't just a glitch.
Some random observations:
Many badges are awarded a few seconds after the awarding condition has been met. This is true for most "common" badges like "Nice Question" and "Nice Answer", but possibly also for the rare "Epic" and "Legendary" Badges.
Some badges, e.g. "Enlightened", will be awarded in blocks about once every hour.
Tag badges will be awarded once every 24 hours, about 3 a.m. UTC.