You should get an e-mail at that address saying whether you'd been accepted or rejected (although you might not get one if you're rejected, I'm not sure). Make sure that is a paid for e-mail address and not a free one. Handle/e-mail review can take anywhere from two to twelve hours, as well.
It all depends on the ASims, and when they're online. They get sometimes 100+ applications a day, and most of them don't like to go through all of them...having to check if the handle is acceptable, and if the e-mail is free, yadda-yadda. I know I wouldn't. I'd say wait another 48 hours before really looking into why its taking so long.
Please use the Lost Password feature to review your account status. It will tell you if your account is still pending activation. Otherwise, it will read out "invalid e-mail" if you were rejected, or will send you a new password if you were approved.