Excel 2007 : Inserted graphs in EXCEL 2007 do not scale with print page reduction

Hope this is the right place to post this.
I have created a simple spread sheet with 3 sets of 2 rows by 24 columns of cells with my data. There are 10 blank rows between each 2 row set.
I placed a simple (Insert chart) line graph of each of the 3 data sets on the spreadsheet.
The first 2 charts were manually sized in height to fit in 8 of the 10 rows of vertical separation between set 1 and 2 and set 2 and 3. The third chart sized 8 rows tall placed one row below set 3. I selected a print rage to include all three of the 2 row sets and the three graphs,
I am using EXCEL 2007.

Here is the question:
When I hit print preview the graphs fit and look fine but the 24 columns do not fit landscape on 8 1/2 by 11 paper, so I adjusted the "Page set up", "Page" tab, "Scaling" option to 1 page wide by 1 page tall (this gives me a 60% reduction).
The 24 column rows now fit fine in the print out, but the inserted graphs print but do not scale with the 60% page reduction. They remain 100% of their size.
They remain full size and cover up some of the rows of data in the printout.
Have any of you encountered this? Has anyone figured out how to get the graph to rescale automatically to page scaling reductions in EXCEL 2007?
Thanks
Bruce

Bumping this old thread.

This is apparently a shortcoming in Excel 2007 and 2010 (I tested this in both). If you create a document in Excel 2007 with inserted objects like lines or arrows, then scale the page to something other than 100% (like when you print to fit), the cells will scale properly but the objects will not. They will print at 100% regardless. But if you then save the said Excel file in to Excel 2003 (.xls) format, and then open it with Excel 2003 and print, the objects will scale correctly! There appears to be something wrong with the print generation algorithm in Excel 2007+. Anyone know how to make this work?