Improve wait_for_ready timeout errors

[pehala]

• Timeouts now return human readable message instead of an error for timeout
  • Any other errors will be propagated as usual
• Use wait_until instead of until_all()
• Lower default timeout from 90sec to 60sec
  • Everything passed on my machine, we can see if it works (or I can delete it based on review)

[pehala]

Rebased