It seems to me that people are taking Luffy's actions as meaning "we'll meet again in the new year," but I have to disagree with that, mostly because I doubt the Straw Hats would know that it's a Marine custom to ring the bell 16 times at the end of the year.
What Rayleigh said to Luffy was just as much a clue for us as it was a way to reassure Luffy. "They should get it if they read the article. The key is that it's something quite unlike you."
They have to read the article, which eliminates any and all suggestions that his tattoo/armband is connected to the message in any way. And both Kid and the World Government interpreted the message incorrectly, because both declaring war on the government and declaring the new era as his own are things Luffy would totally do.
The sailing around in a circle to me implies to "return to the place you left from," which is Sabaody Archipelago. The 16 bell rings I'm not sure on, but that seems to be the crucial part of the message, because the final prayer and the boquet tells me "…and everything will be alright." Reuniting in a new year is not only something the Straw Hats wouldn't understand, but it's not something Luffy would want. At all. Delaying anything by any amount of time is not his style. Which is why the message, which is quite unlike him, must be a delay. But not one of such grand proportions as a year. He will be healed in two weeks, perhaps less, but he knows he can't go to the New World just yet, either. So he settles for 16 bell chimes. Each chime represents a day, I would say. Or perhaps half a day, which would make it 8 days.