Create a benchmark sequence
Two days to encode HD material on a G5 1.8 DP.
I will not contest your stopwatch, but as you ay many variables are in play.
I use a G5 2.0 DP (model PowerMac 7.3) and have 3Gb of memory.
I process native HDV material (source = HDV, timeline = HDV, output = HDV).
My latest project 34 mins takes me about 2 hoyrs to render (when I drop all cache an temporary files - to simulate a clean render without reusing real time editing rendering results).
Converting with compressor to DVD Best Quality 90 mins setting (Mpeg 2 + AC3) takes 10 hours (5 mins for audio, the rest for video.
Personally I am not so happy with

walking the benchmark path to claim speed improvements. It places itself in the WIntel league.
Apple is oser oriented and should have use-benchmarks.
I would like to suggest the creation of a FC benchmark sequence to have be able to answer Senseless' question.
Regards
Coen