well, you've hit the nail on the head there mate:
TIME IS EVERYTHING IN GAME PRODUCTION
there are several common ways to save time while producing a passable product:
"character base" method - create a single cycle for all or most animations, then place clothing and features over it for each set. This typically is used in character-heavy games like RPG's where you need many people to perform the same actions.
"elite group" method - do every frame for every character with 100% love, BUT only make a few. This is usually used in fighter games where they need a small cast of diverse characters.
"regimental quality" method - do tons of from-scratch unique characters with minimal frames. A favorite of strategy games the world over.
here's the basic breakdown, handed down through the generations, of what you can have for production: