This was back in the days when you could tell roughly where someone lived by their phone number - 43x—xxxx was south Edmonton (but not Mill Woods or Riverbend), 2xx-xxxx was Calgary, area codes didn’t matter because the whole province was 403, etc. The phone system is a lot different now - you can port a landline to a cell phone (and vice-versa). The original phone number where that happened has been ported to the cable company and now goes through coax (the equipment that handles it is basically a cable modem with a phone jack).
The world was so very different. Waiting for that 0 to finally work its way around the dial, good grief. Especially since as a kid I was perpetually afraid any phone number that included a 0 might lead me to somehow get connected to a phone operator, so I wanted to dial the following number as quickly as possible.
I never determined the timeout, and I haven't had a land line in at least 15 years to experiment with.