If a task is set to recur every day, only the next recurrence has its time accounted for in the total time estimate displayed in the list summary on the right-hand side.

When doing a weekly review, one of the things I like to do is get an estimate of how much calendar time for the week needs to be allocated to task time. I do this by making sure my tasks have time estimates and then going to the "This Week" built-in list and checking the total time. If I have a few tasks that repeat every day, every other day, etc. and have significant time estimates, this makes the time estimate significantly short of the actually estimate, causing me to under-allocate time.