How long does an iPod video conversion take?

I want to know because I've been ripping DVDs for my iPod. The only problem is that I've been trying to convert Napoleon Dynamite to iPod, and it's taken over 10 hours. How long do these usually last, and how can I speed up the process (if there's a way)? Thanks, your answers are always appreciated!
Update: I'd also like to mention that I used the iTunes movie dimensions (640x272 pixels) and the ".m4v" format when I was ripping
Update 2: I'm using an iMac with an 2 GHZ Intel Core Duo processor.
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