RE: Phase 3 EF - 16
Next time maybe try converting to the AVI option.
Once you select your INPUT FILE and your OUTPUT FILE NAME go to EDIT PROFILE and try these settings;
Video: MPEG4 (VivX.XviD), 768kbps; Audio: MP3, 96kps.
These are pretty much a standard size for AVI files to go on Youtube.
I hope it helps your upload speed. It does for me.