Exporting HD content takes ages because you are working on ~20Gb of data. That's a lot of encoding!
The reason that EyeTv does not simply push out MPEG4 or some other "usable" format is because of the adage "shit in, shit out". The broadcasters send their programmes out in MPEG 2 format, for EyeTv to convert that on he fly is asking a lot!
You convert the shows into AppleTV format, do you use an AppleTV? If you do then perhaps use the patchstick on that so it can playback without conversion.
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