Hi, I'm all but a dev, though I'm having fun too playing with transcoding options to receive the best possible from my pooor line with 1Mb upload.
Anyway, after a quick search I've found
// Default = "medium". We gain more encoding speed compared to the loss of quality when lowering it _slightly_.
av_dict_set(&opts, "preset", "faster", 0);
in src/plumbing/transcoding.c
You might wanna try to put ultrafast on there, and compile, and see the results.