Yeah, that's part of why I spent nearly a month trying to get the right quality:filesize ratio. Aside from picking apart nearly every available setting, I didn't realize the encode times would go up exponentially. Had to do a few overnight jobs near the end.
Anyway, here's a normal low-quality quick-encode profile and here's my floofy high-quality take-forever-to-encode profile.
And here's some filesize comparisons between the two profiles:
Frank Herbert's Dune E1:
Independence Day (Extended Edition):
Again, the smaller filesizes use RF:19 and AAC 192K while the larger filesizes use RF:20 and AAC 160K. That's because the stupidly-high-quality settings in the advanced tab max out the image optimization (within reason) and thereby eliminate nearly all the garbage data that gets dumped into a file that's been optimized for quick encode speed.
You can also leave the RF and AAC alone. That's what I do for informational TV shows or documentaries. Here's a filesize comparison of a 30-minute TV episode that featured mainly interviews and historical footage:
Floofy (RF:19/AAC 192K): 499,522
Floofy (RF:20/AAC 160K): 414,367
Significant size savings, slight quality decrease but still better than normal settings.
And yes, queue's essential if you're going for filesize optimization. I always let it run overnight, or when I go to school or work. Just pick whatever encoding settings you want, then click add to queue. It'll save the video video along with a snapshot of those settings, so you can have multiple files with multiple settings in the queue rather than having the current settings applied to every file in the queue. You can set it to "shut down after encoding" too. Just remember to cancel that setting if you want to encode while actually using the PC >_>