2 things influence how fast it will appear to upload.
1) The user's connection speed. If they're connected through dial-up, there's not much you can do to make it faster. This is the lion's share of the time
2) Your processing time. Quite small relative to the time it takes to upload the file. This is about the only thing you can speed up. See if there are any optimizations you can do to speed up the transcoding. Likely though, the time gains you make here won't make much of a difference relative to the time it takes to upload the file.
Actually, I uploaded a file using my PHP script, and I uploaded the same file to youtube. But youtube was far better than mine by the mean of speed. That's why I'm still curious to know the way to do the uploading stuff fast.
I still think, there must be some other way. However, thanx for your advice.