If you want a decent looking HD file that is 35 minutes long, unfortunately the size and export time will be relatively high.
You’ll want to export to H.264 and probably have a minimum bit rate of 3 Mbps in order for the quality to be acceptable. You’ll likely get a little pixelation in motion or dissolves with this, but that’s the trade-off for a smaller file. Your processor and RAM will limit how fast it exports, but as Joey said, there are numerous other factors that will affect the speed. A lot of effects in your timeline can make it a guaranteed over-nighter.