Should Adobe Media Encoder CC 2015 take this long to Encode?

[Coreo]

I am exporting four videos through AME that I edited in AE CC 2015. They are 16 minute gameplay videos of Terraria at 1080p60fps. It is saying that the videos are going to take around 2 and a half hours each to fully export.
Is this right? My hardware is more than capable of exporting this much faster...

Specs:
Windows 10 Pro 64-bit
Intel Core i7 5930K
NVIDIA GTX TITAN X
32GB DDR4 2133Mhz RAM
2 TB HDD

 

[Coreo]

I've set the bitrate to Target 6 and Max 9. Hopefully that doesn't impact quality too bad.