In reply to peebles boy:
You're absolutely right, the duration of exercise as well as its intensity has a big bearing on recovery time. The effect you're talking about is known and fully quantifiable, it's known as EPOC or excess post-exercise oxygen consumption.
Broadly it's a measure of the oxygen debt accumulated during exercise, and can be measured in terms of how far elevated one's O2 uptake is above baseline following exercise, and for how long this excess consumption of O2 remains. Hams and IainR are right: hard exercise results in an increase in basal metabolic rate - EPOC is just a way of quantifying this increase.
There's an introduction to the concept here explaining some of the key phys-hoggery (Brian Mackenzie is a knowledgeable and reputable coach, ignore the silly ads in the webpage):
http://www.brianmac.co.uk/oxdebit.htm
And a study abstract showing that trained athletes tend to recover more effectively than untrained people, following both absolute and relative exercise stress. Unsurprising in itself probably, but interesting in seeing how it ties up the scientific data to reality:
http://www.ncbi.nlm.nih.gov/pubmed/9216958
EPOC can be measured (if you still care by now
) either with pulse rate testing at given intervals, or more reliably with a HRM with the correct software. These aren't cheap mind you, and the data is probably only of interest when someone is training toward a specific event. Here EPOC is massively useful, and can be used in conjunction with heart rate variability (HRV) data to determine how close an individual is to over-training.
Tall Paul is spot on: measure resting pulse after waking for a reliable reading.