AFAIK,thanks gmst, any specifics on why this is the case?
if your sheets are calculation heavy, win7 will show a little performance improvement or at least not any significant performance degradation over winxp. However, opening and closing a lot of files - probably thats the reason.
However, I think what you need to do is what other poster has suggested. Break your tasks into following:
1) calculations - multi-threading will help, can be optimized if you can improve your code
2) files open/close
3) copy paste - use as other poster suggested, also re-write your code so that you minimize copy-pasting and keep things in variables/data structures in memory
Also, disable excel refresh after every calculation (I am pretty sure you would have done this already).