I have Excel 2007 on a machine with XP SP2 and .5GB RAM

I've done Office repair option (no problems found) and Office Update.
Problem still exists after those two steps.

Here is the issue: Excel is not open and I double click on a file (36KB) on
a network share. Excel opens right away but the file does not display for
about a minute. However I can double click on the file, then imediately
minimize the Excel window and then the file opens imediately and reinstates
the window to previous size. Also when excel is already open I can DC on the
file and it opens imediately. The issue occurs on multiple .xls files. Only
this machine however.

Any ideas what is causing this and the fix? I have told the user the two
work arounds I discovered but would like final resolution.