Just an FYI... I learned this the hard way

and thought I might save someone else a bit of (conversion) time.
The "output profile" setting in Page Setup can have a HUGE impact on conversion times.
I didn't realize when picking "ipad" as the output device that it would run, in my case, 7x slower than the "Default Output Profile." Ouch!
(I didn't realize this for years, until I ran a conversion from the command line on the same PC using ebook-convert, and it was 7x faster. That got me to digging around for the cause.)
I looked at the .mobi output from both "ipad" and "default" profiles, and to my eye, I couldn't see any difference in text or images, so it may be worth your while to try different output profiles for speed.
I've only tested this on epub -> mobi conversions, don't know if it impacts other output formats or not.
Hope this helps save folks some time.