if you're using that p3, be prepared to leave your computer on overnight to do this. you can probaby do a fast conversion in about 6 hours but the quality will be pretty crappy. but maybe the new encoding stuff that's out now have sped up the process? I haven't encoded a movie in awhile so I don't know. I did 2 passes for my movies so I had to leave my computer on overnight and into the morning to finish.