Since you're using 2007, you can shorten that formula to:

=IFERROR(AVERAGEIFs('@Daily Data Temp'!$I2:$I3942,'@Daily Data Temp'!$F2:$F3942,$F$1,'@Daily Data Temp'!$E2:$E3942,$G$1,'@Daily Data Temp'!$D2:$D3942,$A5,'@Daily Data Temp'!$J2:$J3942,$H$1,'@Daily Data Temp'!$B2:$B3942,$I$1,'@Daily Data Temp'!$H2:$H3942,B$3),"N/A")

which does not need array-entry, so the length shouldn't be an issue.