Hi there. I've been trying to make one of those "24 hours in 5 minutes video" by just filming an entire day and then just shrinking it to five minutes, but I had some problems. Using my HDR-260v Sony Handycam Video Camera, with 30 fps interlaced, at 1920x1080 resolution and 10 Mbps.
I'm using Adobe Premiere Pro CS6 just do decrease the "Speed/Duration" and then I export it to Adobe Media Encoder. The Preset I decided to choose is "Match Source Attributes (High Quality)" and started rendering it. With a estimated time to finish as 3 hours, I considered it to be pretty satisfying, but after two hours, the estimated time to finish started to increase in a matter of seconds.
Right now, 6 hours (give or take) have passed, and the time remaining is 3 hours, still increasing in a matter of seconds (E.g.: 03:20:02 in 3 minutes it will be 3:20:40)
My computer's configurations are Windows 7 64 bits with 8GB RAM, the Processor is an Intel Core i7-2600 3.40Ghz.