I've read that in the next version of Excel, there will be 1.1
million rows.

where did you read this? can you post a link?

http://blogs.msdn.com/excel/

Probably the most common question the Excel team gets from our customers is
"when are you going to add more rows/more columns/more rows and more
columns". There are many different scenarios behind these requests. Some
customers want to be able to analyze more data than Excel has rows, some
customers want to track more daily information than Excel has columns, and
other customers want to perform matrix math on large matrices of thousands
of elements. There are plenty of other scenarios too. Well, the answer to
the question is "in Excel 12." Specifically, the Excel 12 grid will be
1,048,576 rows by 16,384 columns. That's 1,500% more rows and 6,300% more
columns than in Excel 2003, and for those of you that are curious, columns
now end at XFD instead of IV.