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Your final file size seems alright, but it shouldn't take nearly that long to render. Of course, there are several variables - what is your source format? And what type of machine are you using to convert?
The time to upload it is very subjective as well - what type of connection do you have? On an average 5mbit/s cable modem connection it could easily take 1.5 hours to upload a 715mb file. Remember that your upstream bandwidth is almost always less than your downstream bandwidth.
If your video is freezing all of the time it is probably due to buffering. This, in turn, is related to your file size and your downstream bandwidth. Try reducing the quality of your .mp4 and making sure that you aren't trying to encode in surround sound or something else that would greatly increase the file size.
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