If you need to create H.264 video files fast... be sure to check out the Turbo H.264 from Elgato. This USB sized device offers a dedicated H.264 encoding chip for less than $100. In our tests... we were flying through video compression tasks. For example, we recently encoded a bunch of hour long video, each taking about 7 minutes. The speed is amazing and the quality is very good. The new software they've released even lets you customize your export templates for custom sizes and data rates (several presets for other portable media players are included).
The Best Price we've found is $89.