A good question, but you have not given us any timings. How long are things staking at the moment?
But my stab at answering the questions is that if you have a DV AVI file and want to convert it straight to MPEG2 then the best speed I've seen is realtime. I achieve this by use of the Matrox RT.X100 realtime card. It also allows capture straight to MPEG2 in realtime as well as realtime export from Premiere Pro.
The MPEG2 export is only one job the card does. It offers realtime transitions and effects, saving hours in editing time on every project.
So there you are. Not sure what timings you are seeing but the best I've seen adn achieved is realtime using the Matrox card. Note though that (from memory) the RT.X100 offers realtime MPEG2, the RT.X10 doe not.
Hope this helps
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