Just to be clear. Media cache files are generated as you go and should only need to be re-generated if you cleaned them from prefs>media or manually deleted them. Render preview files are different and are just there to improve your real time performance. I don't think you should get into a long export before your media cache files are done, but you can go ahead and export without building rendered preview files. If you wan to test it, just shrink the work area bar down to a little portion of a sequence and select the 'work area bar' option in the export settings.
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