Use dv2mpg to create the mpeg2 format video file. It does this in three steps. It creates an audio file by reading the eli file and extracting the audio from the raw video files. Look at the sample in Fig 6 to see the command being instantiated and the files available to it. (Script available in Section 8 of this document)
Then it creates a video file by reading the eli file and extracting the video from the raw video files. Look at the sample in Fig 7 to see the output of the video encoding.
It is much more verbose than the audio encoding. In both of these steps, it uses the eli project file to know when to start/stop, according to your editing choices during kino. The last thing this script does is multiplex this audio and video together into a single jpeg2 format video file. The script encodes at a rate of 6000 Kbits/sec. At this rate, you can get about 85 minutes of video onto a standard DVD-R, which is just enough for two episodes of the average 1 hour TV show (American) minus the commercials.
Approximate time: 5.5 hours on my AMD Athlon 1.1 Gig SCSI box. +(Your time will be dependent upon your CPU and disk throughput.)