Are you saying you are having hosting with Unlimited disk space ? Unlimited is not possible, anyway if you need to use it, you can set it up as remote server in vShare Admin area, so uploaded video get uploaded to this server after processing.
As for uploading large video, best thinking you can do is convert video on your PC (this take some time and your PC can become slow too), then upload to server, this way server don't have to convert video to FLV.
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