5 1/2 Hour encoding for an hour video?

So, I frequently create hour long videos and throw them up on youtube as a hobby of mine. Recently I've been seeing that they're taking a lot longer to export. I mean, before they might get to three hours per video - which I figured was fine, because most of them involved having a track matte mask on a track as well as some resizing and even izotope's Ozone as some audio mastering on it. But they're starting to take 5 hours, and I'm starting to wonder if it's something in Premiere that's changed since an update that's messed with it rendering. I'll post my system specs and my encoding settings...
Computer:
CPU: Intel i7 870 @ 2.93GHz (OCed to 3.53 GHz)
GPU: GeForce GTX 770
RAM: 16 GB
OS: Windows 7 Home Premium 64bit
Version: Premiere Pro CC 2014
Encoding:
H.264 (mp4)
1920x1080, 60 fps, Progressive, NTSC
Profile: High
Level: 5.2
VBR, 2 Pass
Target Bitrate: 30 Mbps
Maximum Bitrate: 50 Mbps
Maximum Render Quality
AAC Audio, 48,000 Hz, 320 bitrate, Stereo, High quality
Does this seem about normal for the settings, or should I be getting more of a push from the hardware? Honestly just curious. I've got a friend with similar (slightly worse) specs who renders out videos in Sony Vegas like they're cake (possibly even less than an hour for his videos of same length and resolution/bitrate - unsure of the quality.)

Here is the log... (It's quite long..) The bitrate is indeed what's causing most of the hiccups. Turning off max render quality lowers the encoding time by about 50% of the video time - so thank you for that. Lowering the bitrate (by using one of the predefined presets) does knock off a huge chunk of the encoding time, HOWEVER - there is a very clear drop in quality. Lots of pixelation, and this will be even more noticeable once youtube has it's way with encoding. Here's the log:
12/27/2014 02:31:31 PM : Queue Started
- Source File: M:\Videos\Capvid\Let's Plays\Borderlands\Borderlands_1.prproj
- Output File: M:\12-youtube.mp4
- Preset Used: Youtube
- Video: 1920x1080 (1.0), 60 fps, Progressive, 00:01:00:28
- Audio: AAC, 320 kbps, 48 kHz, Stereo
- Bitrate: VBR, 2 pass, Target 30.00 Mbps, Max 50.00 Mbps
- Encoding Time: 00:05:51
12/27/2014 02:37:22 PM : File Successfully Encoded
- Source File: M:\Videos\Capvid\Let's Plays\Borderlands\Borderlands_1.prproj
- Output File: M:\12nozone-youtube.mp4
- Preset Used: Youtube
- Video: 1920x1080 (1.0), 60 fps, Progressive, 00:01:00:28
- Audio: AAC, 320 kbps, 48 kHz, Stereo
- Bitrate: VBR, 2 pass, Target 30.00 Mbps, Max 50.00 Mbps
- Encoding Time: 00:06:10
12/27/2014 02:43:33 PM : File Successfully Encoded
- Source File: M:\Videos\Capvid\Let's Plays\Borderlands\Borderlands_1.prproj
- Output File: M:\12novsts-youtube.mp4
- Preset Used: Youtube
- Video: 1920x1080 (1.0), 60 fps, Progressive, 00:01:00:28
- Audio: AAC, 320 kbps, 48 kHz, Stereo
- Bitrate: VBR, 2 pass, Target 30.00 Mbps, Max 50.00 Mbps
- Encoding Time: 00:05:53
12/27/2014 02:49:26 PM : File Successfully Encoded
- Source File: M:\Videos\Capvid\Let's Plays\Borderlands\Borderlands_1.prproj
- Output File: M:\12nopip-youtube.mp4
- Preset Used: Youtube
- Video: 1920x1080 (1.0), 60 fps, Progressive, 00:01:00:28
- Audio: AAC, 320 kbps, 48 kHz, Stereo
- Bitrate: VBR, 2 pass, Target 30.00 Mbps, Max 50.00 Mbps
- Encoding Time: 00:05:03
12/27/2014 02:54:30 PM : File Successfully Encoded
- Source File: M:\Videos\Capvid\Let's Plays\Borderlands\Borderlands_1.prproj
- Output File: M:\12nothing-youtube.mp4
- Preset Used: Youtube
- Video: 1920x1080 (1.0), 60 fps, Progressive, 00:01:00:28
- Audio: AAC, 320 kbps, 48 kHz, Stereo
- Bitrate: VBR, 2 pass, Target 30.00 Mbps, Max 50.00 Mbps
- Encoding Time: 00:05:02
12/27/2014 02:59:33 PM : File Successfully Encoded
12/27/2014 02:59:33 PM : Queue Stopped
12/27/2014 03:02:48 PM : Queue Started
- Source File: M:\Videos\Capvid\Let's Plays\Borderlands\Borderlands_1.prproj
- Output File: M:\12-nomaxrender.mp4
- Preset Used: Custom
- Video: 1920x1080 (1.0), 60 fps, Progressive, 00:01:00:28
- Audio: AAC, 320 kbps, 48 kHz, Stereo
- Bitrate: VBR, 2 pass, Target 30.00 Mbps, Max 50.00 Mbps
- Encoding Time: 00:05:28
12/27/2014 03:08:16 PM : File Successfully Encoded
- Source File: M:\Videos\Capvid\Let's Plays\Borderlands\Borderlands_1.prproj
- Output File: M:\12nozone-nomaxrender.mp4
- Preset Used: Custom
- Video: 1920x1080 (1.0), 60 fps, Progressive, 00:01:00:28
- Audio: AAC, 320 kbps, 48 kHz, Stereo
- Bitrate: VBR, 2 pass, Target 30.00 Mbps, Max 50.00 Mbps
- Encoding Time: 00:05:10
12/27/2014 03:13:27 PM : File Successfully Encoded
- Source File: M:\Videos\Capvid\Let's Plays\Borderlands\Borderlands_1.prproj
- Output File: M:\12novsts-nomaxrender.mp4
- Preset Used: Custom
- Video: 1920x1080 (1.0), 60 fps, Progressive, 00:01:00:28
- Audio: AAC, 320 kbps, 48 kHz, Stereo
- Bitrate: VBR, 2 pass, Target 30.00 Mbps, Max 50.00 Mbps
- Encoding Time: 00:05:11
12/27/2014 03:18:38 PM : File Successfully Encoded
- Source File: M:\Videos\Capvid\Let's Plays\Borderlands\Borderlands_1.prproj
- Output File: M:\12nopip-nomaxrender.mp4
- Preset Used: Custom
- Video: 1920x1080 (1.0), 60 fps, Progressive, 00:01:00:28
- Audio: AAC, 320 kbps, 48 kHz, Stereo
- Bitrate: VBR, 2 pass, Target 30.00 Mbps, Max 50.00 Mbps
- Encoding Time: 00:05:03
12/27/2014 03:23:42 PM : File Successfully Encoded
- Source File: M:\Videos\Capvid\Let's Plays\Borderlands\Borderlands_1.prproj
- Output File: M:\12nothing-nomaxrender.mp4
- Preset Used: Custom
- Video: 1920x1080 (1.0), 60 fps, Progressive, 00:01:00:28
- Audio: AAC, 320 kbps, 48 kHz, Stereo
- Bitrate: VBR, 2 pass, Target 30.00 Mbps, Max 50.00 Mbps
- Encoding Time: 00:04:56
12/27/2014 03:28:38 PM : File Successfully Encoded
12/27/2014 03:28:39 PM : Queue Stopped
12/27/2014 03:49:00 PM : Queue Started
- Source File: M:\Videos\Capvid\Let's Plays\Borderlands\Borderlands_1.prproj
- Output File: M:\12-highbitrate.mp4
- Preset Used: Match Source - High bitrate
- Video: 1920x1080 (1.0), 60 fps, Progressive, 00:01:00:28
- Audio: AAC, 320 kbps, 48 kHz, Stereo
- Bitrate: VBR, 1 pass, Target 10.00 Mbps, Max 12.00 Mbps
- Encoding Time: 00:02:25
12/27/2014 03:51:26 PM : File Successfully Encoded
- Source File: M:\Videos\Capvid\Let's Plays\Borderlands\Borderlands_1.prproj
- Output File: M:\12nozone-highbitrate.mp4
- Preset Used: Match Source - High bitrate
- Video: 1920x1080 (1.0), 60 fps, Progressive, 00:01:00:28
- Audio: AAC, 320 kbps, 48 kHz, Stereo
- Bitrate: VBR, 1 pass, Target 10.00 Mbps, Max 12.00 Mbps
- Encoding Time: 00:02:21
12/27/2014 03:53:47 PM : File Successfully Encoded
- Source File: M:\Videos\Capvid\Let's Plays\Borderlands\Borderlands_1.prproj
- Output File: M:\12novsts-highbitrate.mp4
- Preset Used: Match Source - High bitrate
- Video: 1920x1080 (1.0), 60 fps, Progressive, 00:01:00:28
- Audio: AAC, 320 kbps, 48 kHz, Stereo
- Bitrate: VBR, 1 pass, Target 10.00 Mbps, Max 12.00 Mbps
- Encoding Time: 00:02:21
12/27/2014 03:56:09 PM : File Successfully Encoded
- Source File: M:\Videos\Capvid\Let's Plays\Borderlands\Borderlands_1.prproj
- Output File: M:\12nopip-highbitrate.mp4
- Preset Used: Match Source - High bitrate
- Video: 1920x1080 (1.0), 60 fps, Progressive, 00:01:00:28
- Audio: AAC, 320 kbps, 48 kHz, Stereo
- Bitrate: VBR, 1 pass, Target 10.00 Mbps, Max 12.00 Mbps
- Encoding Time: 00:02:21
12/27/2014 03:58:31 PM : File Successfully Encoded
- Source File: M:\Videos\Capvid\Let's Plays\Borderlands\Borderlands_1.prproj
- Output File: M:\12nothing-highbitrate.mp4
- Preset Used: Match Source - High bitrate
- Video: 1920x1080 (1.0), 60 fps, Progressive, 00:01:00:28
- Audio: AAC, 320 kbps, 48 kHz, Stereo
- Bitrate: VBR, 1 pass, Target 10.00 Mbps, Max 12.00 Mbps
- Encoding Time: 00:02:19
12/27/2014 04:00:51 PM : File Successfully Encoded
12/27/2014 04:00:51 PM : Queue Stopped

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