Break some rules, use handbrake, crop 8 from the height and target 536 height(this will do a very fast 2-1 reduce rather than an actual resize), check maintain aspect ratio, code to mpeg avs quality2 or normal profile(important for speed) mpeg avc, quality 18, higher if desired. Use crf instead of bit rate and save to mkv. If MP4 is used be sure to uncheck web friendly. It will encode at ~ 150 fps on a modern system. If more flexibility is needed, avidemux runs at similar speeds but again avoid resizes on HD as they are single threaded, once in SD the resize penalty is definitely more manageable.