.mov to iPod -- how long to convert?

I imported a short movie into Quicktime Pro v7, then saved it as a .mov file.

When I exported it to "iPod" format, it took 3 hours. The original file is 150MB and 11 minutes long. Is this export time correct?

If not, what are some of the things I can do to make it export faster.

Thanks,
~CB

Various G5s, G4s & iMacs Mac OS X (10.4.3)