Comming directly from the A320 TR course, this is what airbus sais:
Mask on - PF: Turn ALT and pull, Turn HDG and pull and pull speed. check your FMA and thust ilde. speed brakes only if no structural damage.
PNF: Signs ON, IGN ON, TCAS TA + 7700 + "Mayday", if cabin alt above 14000 deploy mask.
If you use max speed on decent it will take approx 4min to get to FL100. The checklist says "decent to FL100/MOA" - so if you are above the Himalayas then you'll need a excape plan/contingency route and also an equi time point.
Hope this helps a little
Martin