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Default Very poor performance with Excel 2007

I have a workbook that contains about 120 worksheets. It makes heavy use of
VBA through user forms, dynamic web queries, populating worksheets, etc.
There is a summary worksheet that is basically a summary from each of the
individual sheets.

It runs fine under Windows XP and Excel 2003. I have converted two PCs to
Vista and Office 2007. One is a Pentium 4 with 2GB, the other an Intel X64
Core Duo with 2 GB. The workbook opens in roughly 10 seconds. It saves in
from 5 minutes to 8 minutes, depending on machine, environment, etc.

Vista shows it as not responding, but the Task Manager shows the Excel
process at a constant 45-60% CPU usage, less than 50% memory usage for the
duration of the save. It does finally save, and has no error messages.

No viruses are present on either machine. Both machines are completely new
installs, one straight from a vendor, the other complete format and install.
I am not having problems with other workbooks whether running them in
compatibility mode, native 2007 formats, with or without macros.

I have tried the following, and continue to get the same performance:

1) Run it only in compatibility mode.
2) Repaired the workbook during open, converted to the 2007 file format with
macros.
3) Stripped out all but the most minimum set of macros, and saved in 2007
file format with macros.
4) Completely removed all macros and saved in 2007 file format without
macros (the default).

Has anyone experienced similar performance? Does anyone have any suggestion
besides completely re-writing the application?
--
Ross
 
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