Hey Dan, welcome to the board! The bald look suits you, especially with your beard. When I first started thinning, others did not notice either. But I could tell my hair was not a thick as it was. I was also much older than you, in my late 40's. How long it will take for your head to become bald is a question we cannot answer. My top was almost completely bald within about 3 years after noticing thinning. Some guys start to thin, and may in fact just remain thin and never become bald. Others can go completely bald in just a year or two after thinning starts. So only time will tell how quickly your male pattern baldness progresses. Other older male relatives my give you a clue, but it can still vary within families. My older brother still has a full head of hair at 67.
As to shaving, practice will make it easier and cut the time down. Here is what works for me. I have a anti-fog mirror in my shower so I can shave in the shower. I use a quality cartridge razor, the Gillette Fusion. They are pricy, but they shave close and comfortable and tend to last. I get about 15 shaves per cartridge. So it is still less costly than regular haircuts. I use Cremo brand shave cream, not as cheap as foam, but not that expensive. I shave against the grain and with practice it takes 3 to 5 minutes. I took around 6 months of daily shaving to get it that short, I started out taking 30 minutes.
Shadow is something all shaved guys deal with. The key to minimizing the shadow is to get a shave as close as possible. I have found nothing better than the Fusion for getting a close shave. And to keep it close, you will need a daily shave. The shadow is less visible for lighter hair colors, so if/when your hair turns gray, it will almost disappear. Since I am totally gray, a two day shave remains invisible on me. It is typical to keep the shadow minimized for 8 to 12 hours after a cartridge shave. If you shave with the cartridge razor in the morning, you may be able to freshen it up a bit with the foil if you have plans that night. Some guys will do a second cartridge razor shave to go out, but that much shaving can really irritate the skin for most guys. Or an alternative is to skip the morning shave, and shave later that day before going out.
With time, your scalp may become darker toned due to exposure. The darker skin tone will also help to keep the shadow minimized. Just do not try to speed up the scalp tanning - a scalp sunburn is very painful.
A foil shaver is good, but IMO not as good as the Fusion. I have one I take with me when traveling so I don't have to pack my other gear. It also takes me longer to shave with the foil shaver than with the cartridge razor in the shower.
Keep us posted with how you are doing and ask any questions.