Three hours is a long time. I just grabbed a 15 second clip and transcoded to prores HQ in FCP, total transcode time was 4 seconds. Which equates to about 24 minutes for 1.5 hours of footage. Of course it would take me longer than that as I use the log and transfer to review, cut some ends and log info as well, but I do that anyway even if my shots are i frame (same thing I do with p2).