Thanks guys for the response Ken, France and SJJ1805.
Ken, I always knew that the Core 2 Duo is much faster than a Pentium D (MHz for MHz), but you are kicking my butt by about 50% and I've got 1.2 GHz on you!

I hope that somewhere I have a setting that is causing this problem.
France, I only installed the software (version 11) on Monday night, thus, the installation is fairly fresh (but, I'll keep it in mind when all else fails). (I have been using previous versions of VS as well)
SJJ1805, I'll attempt to answer you question as follows:
Although I don't have a special Video Editing Profile configured (I only today started reading your excellent tutorial on Workflow (from DV to DVD, where this topic is addressed), the PC was left to perform the rendering with no other applications running (except Task Manager).
For this project, the Captureing and Output file was on my "F:" drive, which is a 400 GB IDE drive. My C-Drive (the location of my OS, Program Files and the VS "Working Folder") is a 320 GB SATA-2.
Project Properties were as follows:
The Title File (that I offered as a download above for a test), was set as PAL (25fps), Microsoft AVI, 24 bits, 720 x 576, Lower FF, Uncompressed (this was as per the standard "AVI/MPEG" drop down selection box that you can select). In reading the Tutorial mentioned above earlier today, I realised that my workflow methods is not perhaps totally in line with the best practice advised on this site, but I'm learning and will correct this. This AVI setting should be changed from Uncompressed to DV-1.
The VSP file that contained the final work, the Project Properties were set as: MPEG, PAL 25 fps, 24 bits, 720 x 576, Lower FF (DVD-PAL), 4:3, 8000 kbps, LPCM Audio 48000 Hz, Stereo. I could have sworn that I set this to AVI as well, but guess not!
Normally, the video is capture from my Digital 8 Sony Camera via a Firewire link. The video that this particular piece contained (and I must again stress that the actual video segments were short and few and far between - the bulk of the content were animated VS titles) had 2 sources. One was from an Analogue source that was recorded (some time ago) on my Pioneer DVR-530H-s HDD DVD Recorder. For the purpose of including some of that footage into this project (and due to some time constraints), the footage was burned onto a DVD on the Pioneer, and then "converted" using Intervideo DVDCopy 5 to AVI (which I suspect is using a DivX codec as the clip has a fading DivX logo on the bottom right corner for the first few seconds of playback (hardly noticeble). The other source for the clips, were from a friend who recorded footage using his MiniDV camera. However, I am not sure how it was captured. The file format as it was presented to me (on a Data DVD), was (according to the properties of the clips when viewed from VS) "Microsoft AVI files - OpenDML", DV Type 2, 24 bits, 720 x 576, 4:3, Data Rate 3702.12 kbps with PCM 48kHz, 16 Bit Stereo sound.
Again, the speed of the actual video rendering, was not the main problem, it was the speed of the TITLE rendering. No 4:3 / 16:9 conversion setting problems were found (everything was 4:3)
Immediatly after posting this, I will change the Project Properties of the Title file (downloadable above) to see of the change to DV-1 (as opposed to pure uncompressed does anything). Also look at changing all the VSP files that make up the final piece, to have identical settings. (The recommended workflow to first render the completed file an then use this file in the authoring process, was new to me - but will be incorporated in future projects. I'll report back shortly!
Thanks Again Guys, appreciate the help!
Cheers
Chris