Congrats on your purchase of the 40 pounds of live rock from your LFS!
To hopefully clarify a few things, and drawing off what others have already said, as you know there's more than one way to cycle a tank. Generally, you use bottled bacteria such as Dr. Tim's One and Only and bottled ammonium chloride is when you start with all dead, dry base rock and sand. These products help establish (Tim's) and grow (NH4Cl) beneficial, nitrifying bacteria that populate the dead rocks, making them "live" in time.
In your case, you started your tank using enough live rock that has effectively been pre-cycled for you. It already has plenty of good bacteria to get your tank going, and your tank was more-or-less fully cycled on setup.
For this reason, in your case, it was really unnecessary to add the Dr. Tim's One and Only (which will not hurt a thing) or the ammonia chloride (which *might* now be harmful). This because you already have a healthy population of beneficia bacteria on your live rock.
In theory, if you dose ammonia chloride to your tank to a level of 2.0 ppm, the live rock in your tank should be able to process that fairly quickly. Ideally, in 24 or less you should be recording 0.0 ppm ammonia, in your case maybe two days or so since your tank is so very new.
However, in my humble opinion, the question is did you dose so much ammonia that you may have now hurt the beneficial bacteria on your live rock. If your API test is anywhere accurate - and most hear would say they are not - you appear to be well over the recommended 2.0 ppm concentration for ammonia.
I also think you should to a large water change, I would personally do at least 50% and maybe more. I think what you want to do now is bring down the level of ammonia in your tank to less than 2.0 ppm, and maybe even much lower if you can. Give the rock a little time to recover, and then I think you'll be good to go. But for now, it looks like you've overdosed the ammonia, and need to lower that concentration down.
As always, i hope that was some help, and best of luck with your build!