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First of all, it depends on what time on a Friday! If it's off commuting hours, I'd say 3 1/2 hours ("3 hours max" is pushing it). If it's during commuting hours (i.e., after 4 p.m.), who knows?
I left Newport at 1 PM on Fri 9/21 last year and arrived at the George Washington Bridge in three hours. It was gridlock from there, but remember, it was only 10 days after the WTC attack and many roads were closed.
I used to drive fairly frequently between NYC and Newport. On a winter weekday, it takes about 3 1/2 hours. On a Friday evening in the summer, it takes around 5 hours. A few years ago, I gave up and just started flying!