Way more than enough time.
Biggest things to see:
Show and allow one full day or more. I would get a multi day pass since it is hard to see it all in one day and remember anything.
Rotary show couple of hours max. Mostly vendors but some nice ones. Get your wristband and you can go back as often as you like.
Museum an hour or two depending on how each quilt captures your interest.
Hancocks of Paducah depends on your shopping limits.
Downtown and Kentucky street vendors ditto.
Eleanor Burns has a free tent show, building shop and a tent fabric sale. Last year $5 per yard and thousands of yards. Show is always worth it and usually 3X per day.
Hancocks prices in the warehouse drop each day or so until the lowest price (and lowest selection) on the last day. Earliest shopping for best selection of both regular merchandise and warehouse sale items. Note they have plenty of sales staff on hand. I have never waited long in line. Bring your list. Fabric in regular store organized by manufacturer. Get a free catalog at the front door for later viewing. Some of the newest things in the catalog are not on the sales floor.
Kentucky Oaks Mall usually has some vendors. Chickfila is a nice eating place as well as others inside the mall.
Numerous churches have scheduled meals and we have been well pleased by these meals. There is a Pauducah flyer that has the info listed as well as a local quilt newspaper. Well worth trying to find a copy. The Saturday night dinner at the Methodist Church is fantastic. I think we have eaten there over 10 years in a row. Our bus group already has their reservation.
Surrounding towns often schedule shows and quilt events at the same time. We found one in that newspaper mentioned above.