Literally it means 'only good', but it doesn't necessarily mean 'very good', I guess it's more like it points to the absence of anything bad. (admittedly a very small difference)
I think just fine is a perfect translation.
That's a possible interpretation. You can't be sure since the Swedish present tense covers more. I'll add it as an accepted answer. – If you want to say this unambiguously, it would be Det kommer bara (att) ta en minut.