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Default Saving Excel file locks up all memory resources, accesses externalfile?

I have a large (17MB) Excel file that locks up all the memory
resources (2GB) that my machine can throw at it when I try to save it
(save and/or save and close). Specifically, it has a few steps:
1. Calculates the formulas - the status % complete at the bottom left
usually runs through this stage fairly quickly
2. Save progress bar - progress usually moves rapidly until the 80 -
90% complete range before
3. A new Windows Explorer instance appears with the Excel icon and the
name of the file I am trying to save being displayed. This step takes
a while (6 - 16 minutes) to resolve.

I have minimized the number of competing memory resources involved
(close all other applications, increase virtual memory) as well as
optimized my formula choices (vlookup instead of arrays) to little
avail.

Any thoughts?

Thank you!
Ben
 
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