I'm trancoding video in QuickTime Player 7 (to H.264 and AAC), NTSC dimensions and good quality. It's taking quite a while, but it should be going faster for what I have. I have an 8-core Mac Pro, but the export process only ever goes a little above 300% CPU usage, meaning that it's using 4 cores max. My CPU isn't maxed out by anything else, and I have 3GB of free RAM.
Transcoding video is supposed to be a totally parallel task, but it's not using all of my cores. Any explanation or fix for this?