Hardware Used: Mac OS X 10.6.4, 2.66 GHz Core2Duo, 4GB RAM
Example: Opening an Excel Workbooks with 260 x 10000 cells, size approx 6 MB.
Open under VMWare / WinXP / Office2007: 15 seconds
Opening the same file in Excel 2011: 80 seconds
For me, the worst thing is the fact that the insertion of rows and columns in larger Excel spreadsheets takes several minutes. Depending on the size of the spreadsheet and Excel 2007 is not a sprinter here, more than a few seconds but does not take the - at least not in the system used by me.
The calculating formulas lasts compared to Excel 2007 in approximately the same length. There seem to be affected by the slowdown only operations that change the table structure.
Apart from the described show stoppers working under Excel 2011 is actually not much different than with Excel 2007. And as a native program, I would prefer my old VMWare solution. For my daily work but Excel 2011 is simply too slow.
I hope that Microsoft takes the Performance topic. Until then I will continue to work with the VMWare version (must).
Addendum 13.11.2010: via AutoUpdate Today came the upgrade to version 14.0.1. The chief defect point described (Excel Performance at inserting and deleting columns) has been completely eradicated. So I increase the original 2 star rating to 4 stars.