Autosave lags in Excel 2007

I recently upgraded my system to the wonderful Office 2007. I love what they've done to Excel, but I am having a problem with autosave.

Whenever autosave runs, it takes up 99% of my system resources and lasts for about 20 minutes. This assumes a single 2MB workbook being open at the time.

I've been forced to turn off this feature because it makes my system unusable. After searching on google and this forum I haven't found anybody making comments of similar problems. This surprises me because everybody in my office is having the same problem.

Has anybody run into this? Or even better, does anybody have any ideas of how to fix it?

I have the same problem, but only when there are more worksheets open. I set the autosave to 20 minutes instead of the default 10, so I usually finish working on the sheet before Excel starts autosave. I downloaded all available office updates, but did not help. I sent report to Microsoft, but it took very long so I stopped it. If anyone knows any better than disabling autosave, let us know.

Glad to hear at least one other person has this problem. The fact that there aren't more complaints makes me think this is a solvable issue, because it really is significant.

I will say that I have seen improvement if I set the autosave filetype to xls (not xlsx). After making this change initially, I thought it had solved the problem completely, but overtime I noticed that very long autosaves do occasionally still happen.