Export Times this long?

I am using Premiere Pro 1.5 on a Sony Vaio 2.8Ghz machine with 1.792 Gig of Ram. I rendered and exported a one minute piece of widescreen NTSC mini-dv video(shot on my Panasonic GS-400 3 CCD camera)with just two tracks of audio and it took over an hour. I did have RedGiant's FilmLook, FilmLook Cool plugin applied, but that had already been rendered earlier. I exported using the Adobe Mpeg Encoder and chose the 1027 highbandwidth option and a preset I created for widescreen using Audiences. Should it really take that long...geesh! That sort of waiting really puts a cramp on my productivity.

Ragnar