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Default Excel 2007 - Slow & can't run macros

I have been running an involved spreadsheer for a number of years. Couple of
macros (not automatic) and lots of formula. Ran with few if any problems
under Excel 97 and 2003.
I am trying to run the same spreadsheet in 2007 and it just doesn't work.
I have gone to Trust Center and enabled macros ( The wording could lead one
to believe that Excel should not have macros)
Open the original 4MB .xls file
If I try and save it as xlsx I get warning about not being able to save in
macro-free file because of the VB project.
I try to save as macro-enabled xlsxm
When I re-open the xlsxm file every task such as row incert or cell copy
takes over a minute to complete.
I note that this xlsxm file is only 800k so do not know what happened to the
3.2MB worth of information.

How can I run macros under 2007?
 
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