it's about right for a video straight from camera.
http://gopro.com/support/articles/hero3-recording-time-in-each-video-setting
times required to fill a 64gb SD card, if my calculations are correct, that puts a HERO3 1080p/30 at ~ 1.12GB per 10 minutes
how long it takes to upload will depend on your internet connection.
assuming speedtests average of 12.5Mbit/s it'd take ~11 minutes to upload.
That's a rather high upload speed if using normal asynchronous internet (cable/dsl) i.e. 50/5, 30/3, 15/3, etc
at 3Mbit/s, it'd take ~45 minutes
if using synchronous internet (fios) i.e. 50/50 it'd take ~3 minutes
with handbrake set to default settings and 1920x1080 output resolution, you'd probably be able to reduce that file size down to maybe 200 MB, which would be much more manageable for file sharing or long term storage on a storage drive.
https://www.youtube.com/watch?v=FB0ji_3Uees