I have not taken CS but have passed the QE2 in Fall 2007. It's pretty much what you described. I don't remember the exact duration/timing of the stations but there are 2 types. Couplets: there is a little vignette with very specific instructions as to what they expect you to do (ie: take Hx, counsel pt, etc) taped to the door that you get a couple of minutes to read, then you go and do the station, then you get a few minutes to answer 3-4 written questions related to the station. 10 min stations: you are placed in a clinical situation (again, details/instructions given on the door) and the examiner asks you questions ("interpret these EKGs" in a pt arriving to ER w/ C/P whom you're managing) during or in the last ~2min of the station.
The important thing is to remember to verbalize your thoughts and to not pay attn to the examiner unless they are talking to you. As well, you get a booklet full of barcode stickers -- don't forget to peel off 2 prior to entering each room (while you read the vignette) and to hand them straight to the examiner as you enter, it'll save you time. Also, depending on where you are taking the exam, you may be sequestered for hours and hours a/f the end of the exam until candidates from the opposite coast have started, for security reasons.