.mov files right to Myspace or Youtube

I just realized that I could take a .mov file providing its under the 100mb limit and upload it right to Myspace or Youtube. I did just that and the video doesn't look all that bad. It COULD BE BETTER though. So is this way to go for sites like YouTube that just recompresses what you already have compressed? I am saying if you edit a project in FCP or something and save it as a .mov file and that file is under 100mb.
 
Was the video immediately available on Youtube? No "processing" time?
If so, please share your Quicktime export settings :)
 
Well it took 5-10 minutes to process. All I did was after editing my project. I saved it as a Quicktime file. I then went to YouTube and uploaded that file WITHOUT going through Compressor to compress the footage. Now for projects that was over the 100 mb limit I had to compress the footage..
 
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