Paul,
It also makes a huge difference as to what operating system you are running PI on. I have used it on both Windows and OSX but they crawled compared to my current set up which is a Linux machine running Mint 17.2. Even for a neophyte it was easy to set up and it is blazingly fast.
For what its worth, I run using a 16GB ramdisk and also point to several swap folders on my SSD and have never had an issue, even processing large files (60 subs).
Best,
Jim