Here’s the step by step to change the number of instances of Compressor 3 that get launched when you queue off an encoding job. This can substantially improve compression times - Barefeats reported a 250% speedup on an 8 core Mac Pro. Your mileage WILL vary depending on your box, but the default choice of 1 leaves room for improvement. Choosing 2 instances sounds like a safe place to start, test from there. Don’t bother unless you have a multi-core or multiprocessor Mac and a “decent” amount or RAM, though.
Keep in mind this uses more RAM, leaves fewer available CPU cycles for other tasks, and optimal settings will depend on your CPU & RAM configurations. I’ll be testing more on this in the future, but to at least know HOW to change it is a good place to start. If you learn something useful and nifty, use the Email Me button below to clue me in.