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Default INDEX+MATCH=slow?

Hi, i have the following formula running in a column up to 800 rows (column
AT):

=IF(I$7="","",IF(AS7="H",INDEX(I$7:I$16,MATCH($AP$ 7,E$7:E$16,0))-INDEX(K$7:K$16,MATCH($AP$7,E$7:E$16,0)),INDEX(K$7: K$16,MATCH($AP$7,H$7:H$16,0))-INDEX(I$7:I$16,MATCH($AP$7,H$7:H$16,0))))

and the following in the adjacent column, also 800 rows (column AU):

=IF(F$7="","",IF(AS7="H",INDEX(F$7:F$16,MATCH($AP$ 7,E$7:E$16,0)),INDEX(G$7:G$16,MATCH($AP$7,H$7:H$16 ,0))))

I noticed that the calculations performed can be a little taxing, BUT yet to
see the permanent 'Calculation' word appearing at the bottom bar of the Excel
2003 file.

Both formulas are basically looking for specific text/number result, and
working. Anyone knows if its possible to shorten or use alternatives? Is
INDEX and MATCH the best formula to use?
 
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