Yeah but all progress bars are lies anyway. :)
If you leave the desktop uploader running it will certainly upload faster than that. It actually is likely more accurate than the web uploader form.
In fact, you should read this article if you're interested in the topic. There is essentially no accurate way to predict how long something is going to take. Anyone who claims differently is lying, and if it seems to work you're lucky. We beat our heads against the wall for a long, long, long time to come up with something that was as accurate as possible. However, if your connection hiccups, it throws the whole thing off and doesn't right itself until the next round of checks pass.
newschool is a state of mind, not a style of skiing.