You can using handbrake to see if it is any faster. or DVDFab the paid version,

3gb is pretty small size for a movie id estimate using x264 codec with only 1 lang stream & leaving resolution original say an hour tops.If you use handbrake or vidcoder which is built off of handbrake you can increase speed by using drop down & selecting ffmpg2 or 4,that 3gb will take less than 30 mins on dual core 64bit 4gb ram even a 6gb file will only take 40mins to convert to mp4 of 2.5gb using two pass on ffmpg,if you want to specify final output size use vidcoder as hb no longer has option for it,This topic should really be posted in the forum just like your last one EDIT theres two versions of both hb & vc 32bit & 64bit theres no diff in encode speed

pretty sure it took me 40-45 minutes to rip a 6gb dvd down to 1gb mp4 using dvd fab.the settings and computer your using would make a difference.im running win 7 64bit 4gbs ram and intel core quad q8400 processor.i honestly dont know how much of a difference different programs would make.only way would be to test them or do a google search for a comparison guide.

forgot to mention time depends on what settings used,keeping file as large as poss is shorter & whether you use two pass or single,theres other stuff that can make conversion slow in the end your hardware is what will decide how fast