Marc is right on this. In fact there is no need to do this much encoding.
Certainly in Video Studio 8 it is possible to go straight ot the create DVD stage without any encoding. Once you have edited your movie to your satisfaction simply click the 'Share' tab and select 'Create Disc'. That way you will only be encoding once, and at that your final movie.
Incidentally I am puzzled by the DVP reference (did you mean VSP (Video Studio Project)?)
COMPAQ something or other with 500Gb Boot Disk, 1Tb external Firewire Disk, 4Gb Memory and a super duper sound card, 19" TFT Monitor etc etc etc
Sony TRV33e : Sony TRV310e : Canon XM2
Sony Vegas Studio editions to v11
Remember, there is always more to learn than there is to teach.