it always saves as an AVI file.
At this point you can edit, add titles etc. until you are happy with the results.
Then you need to encode it, if you want to output to either SVCD or DVD you need to choose to encode to MPEG2 format (for VDC use MPEG1).
After the file has been encoded burn the MPEG file to SVCD/DVD.
Speed of encoding is dependant on the CPU and system spec but it does take time (I usually go to bed and leave it working).
You can download an encoder from click here