Handbreak SLow

I'm in the process of ripping my DVD collection...and Handbrake is Slow to Very Slow. I'm using the Xbox 360 preset, and have tired the PS3 preset. Right now I'm encoding at 3 FPS, but I usually see about 20 FPS. I have a brand new iMac 2.93 Ghz with 4 GB of Ram, and a 2.5 Ghz Macbook Pro with 4 Ghz of ram.

What's the deal? Is there better software out there? I could rip in Windows 7 but I don't really like using Windows unless I have to.