The picture above is from my laptop, where Handbrake has been laboring for four days to convert a total of four hours of video.
Yup, you heard that right. One hour = one day.
To be fair, that's H.264 encoding...just straight non-ipod-compatible mp4s are about one hour = five hours.
The picture above is from my iMac. The 29.01 frames per second is how fast it's encoding the video. Compare that with the 0.14 frames per second above.
One hour = 33 minutes.
Wow. I knew it'd be faster, but...wow.