Video and other media uploads really need some sort of progress indicator to let the user know that something is happening. Staring at a curor/hourglass for 10 minutes will only cause the user to hit the browser back button, because they will believe that the sebsite is not responding.
Even if you just displayed a fake progress bar with a 'Please be patient while your media is uploaded - Do not navigate away from this page until the upload is complete' ..... that would be much better than the cursor/hourglass.