"Dana DeLouis" wrote...
Just a silly addition.
....
I keep getting 5,448. (Before crashing I might add!!)
....
I run out of Stack now at 5,571.
....

FWIW, I launch Excel 2003 with a few other programs running and type

=INFO("memavail")

in the formula bar and press [F9] rather than [Enter]. Excel returns
1048576, i.e., 2^20, so 1MB. So it looks like this INFO attribute is
so much rubbish.

Using a variation on your test, with an internal static accumulator,
Excel 2003 runs out of stack at 5572.

As for sheets, my default workbooks start with 4 worksheets. Adding
more by macro, Excel 2003 also dies at 5448. Also crashes. So looks
like 5448 is an effective upper limit that hasn't changed with Excel
2007.