Mine normally goes down from 6.5 or 6.0 to about 4.5 in an hour. If I catch it, I will normally have a tiny snack at 5.5 because I tend to walk for more than an hour.
If my levels are high(er) when I start (7 or above), I would normally knock off most of the excess already within the first half hour, so I would be at 5.5 or so.
It does vary a bit. But I would say that a 2-4 drop is possible for me, more if my starting point is higher.
When I reach 4.9 or 4.7, I have to be careful because of my insulin, but I have been a plonker a few times, and then it will say 4.7, 4.5. 4.3 with 10 minute intervals and then for me suddenly hit 2.9 and I'll be in trouble.
That not very likely for someone not on insulin, though, but I always carry fast carbs as I am a bit more vulnerable like that.
-M