The time is more about canning, not just cooking. The reason has to do with the fact that water boils at a lower temperature the higher in altitude you get. There are other adjustments that you are supposed to make for high-altitude baking, but I haven't run into too much trouble there.
And yes, I made enough for about 4 batches of spaghetti and meatballs - using one quart of that plus one pint of the sauce.
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