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Default Documents (painfully) slow to open in Excel 2007

I'm having a strange problem in Excel 2007. We just upgraded from Office
2003 to Office 2007. Now when I double click on an Excel spreadsheet (while
Excel is closed) it takes 61 seconds to display the spreadsheet (Excel itself
opens quickly). If I open Excel first (that takes about 1-2 seconds) and
then open the spreadsheet by either double clicking it or using the file open
dialog, the document opens almost instantaneously. And it doesn't seem to
matter whether it's a .xls, .xlsx, .xlsm or .xlsb file format.

I did not have this problem with Office 2003. I've tried a couple of the
fixes I've seen posted for similar issues, such as making sure "ignore other
DDE applications" is unchecked and re-registering Excel. Neither of these
has made a difference.

Any help would be gratefully received.
 
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