When I render PAL DV format my 45min DV project takes about 3hrs 20min and the quality to camera ~ VHS is great. When I started to re-render (same project)to NTSC DV format (to send to friend in States) it said it takes about 8hrs.
Captured on Sony TRV120E PAL system. I'm assuming it's for ok PAL capture to be converted this way.