Video taking 40 hours to encode

Question

Ok, so I finished editing a video and I went to export it. Sent it to AME, and the Estimated Remaining Time said it had 40 hours to complete. On my old computer this would've been normal, but now I have it on my much better computer so this makes no ******* sense. The specs for the computer I am currently using to export are...
OS: Windows 7 Home Premium
Motherboard: Gigabyte GA-M68MT-S2
CPU: AMD FX-4100 3.6GHz Quad Core
RAM: 8GB DDR3
Storage: 1TB SATA HDD 7200RPM
GPU: EVGA nVIDIA GeForce GTX 650 Superclocked 2GB
Power: Coolmax ZX-700 700W 80 Plus
Now I'm no expert with these new fangled computational calculators, but I think my system is good enough to run Premiere. It's also weird because the final size of the video (according to Premiere) is 873MB. I've exported 7GB videos that took less time. Is it something with the video? This is the media I used...
AVI video, 14:19 long, 1024x768, 280000kbps video bitrate, 1500kbps audio bitrate, 6.55GB
WAV audio, 14:58 long, 1500kbps bitrate, 164MB
GIF, 500x500, 43.5KB
PNG, 3353x3429, 4.11MB, on two video tracks, had following effects:
                                                                                                               Crop
                                                                                                               Compound Blur
                                                                                                               Black & White
                                                                                                               Sharpen
                                                                                                               Horizontal Flip (on one)
Also, these are the sequence settings I was using...
Timebase: 29.97fps
Framesize: 1366x768
Pixel Aspect Ratio: Square Pixel (1.0)
Fields: No Fields (Progressive Scan)
Display Format: 30fps Drop-Frame Timecode
Audio Sample Rate: 48000 Hz
Audio Display Format: Audio Samples
Preview File Format: Microsoft AVI
Codec: Intel IYUV codec
I'm exporting the video using the YouTube 1080p 29.97fps preset.
This is probably way too much info that is completely useless, but I figured I might as well give all the info I can. Does anyone know why my video is taking so long to export?

Answer 1

In addition to what Steven said, imagine your workflow on this computer.
You have a FX-4100 CPU. It does not have hyper threading, only 4 cores, lacks full support for SSE 4.1+ extensions, which are used extensively during encoding if they are available.
You have only 8 GB memory, which is about bare minimum.
You indicate only a single disk for all the editing stuff.
You start with video material with 1024x768 in a 1366x768 sequence which you uprez to 1920x1080.
You use PNG's with 3353x3429 resolution.
You export to a highly compressed format with a final size of 873 MB.
All these resolution changes and PAR changes need to be calculated by a CPU that lacks hyper threading, that lacks the sorely needed SSE extensions and it has to do that in a very restricted memory space, using a single disk, that is needed for media, media cache, previews, project, export, pagefile (which is used extensively) and Windows house keeping. It is like a very popular nightclub that attracts lots of people every day, but has only one narrow single door for entry, departure and deliveries. That causes traffic jams, with long queues of people waiting to get in and similar queues of people waiting to leave. That single narrow door is like your single disk.
The waiting is further aggravated by the doorman who has to direct traffic at the door and he is hampered by his arthritis, so he can't move very quickly, like your CPU. Another factor is the very limited space of the vestibule, like your memory. Finally, when people are squeezed into that tiny vestibule, it causes further delays to leave your coat or retrieve it, like the compression you apply.
Under ideal conditions your system would be around 6 - 8 times slower than a fast system, but with your workflow is may well be 12 - 15 times slower. In that case a fast system with the same workflow would take around 2.5 to 3 hours for the same encoding, which is not at all unreasonable, given the fantasizing you require the CPU to do by first - as Steven put so eloquently - inventing pixels that were not in the original picture and then compressing each frame with all its imaginary content to such a large degree.
You can improve on your workflow by first reducing the PNG's to a size that more closely resembles your sequence setting, and exporting to 1366x768 like Steven said.