In order to upload faster you would need to run through editing software to knock down the raw file sizes. I edit and save everything in a h.264 format (technically mpeg4). Youtube/vimeo will take multiple types of files i.e.-wmv, mpeg, mov, mpeg4, flv (usually standard android mobile phone video types)...but those are all codecs. The difference between truly raw HD video and a "codeced" or edited HD video of the same exact thing will be considerably smaller in size (depending on your settings). If you're uploading 3-4 minute videos to youtube/vimeo it shouldn't be more than 3-500MB. If your into the multiple gig realm....well, you're gonna have to wait a while.

I only save to H.264 so I can archive edited HD footage without re-editing later. I have all footage complete in individual files but my 6T of storage is going away quickly. I need to start looking a petabyte storage.