i think the read timeout is 900 seconds by default. you can also set the switch -t int to tell it how many times to retry if the download fails
i wrote a script in php a while back to fetch an html template from a site, and save all the images to a folder on mine, here is the part for the html, it may be useful
<?php
$DATA_URL = "http://www.site.com/file.js";
$OUTFILE = "localfile.js";
while ( ($html = file_get_contents($DATA_URL) ) == FALSE) { sleep(5); }
//sleep 5 seconds if the download times out and then try again
$fp = fopen($OUTFILE, "w+");
flock($fp, LOCK_EX);
fwrite($fp, $html);
flock($fp, LOCK_UN);
fclose($fp);
?>
you can use cron to trigger that script to run as well, even optionally put a call to mail() in there to let you know every time it runs.