How else do you suggest I go through hours of data taken with multiple scans per second?.
With a tool designed for exactly that, aka Excel's big brother... Access. Or my personal preference, SQL Express because it runs great on a lappy, is totally free and I'm more comfortable with the all the querying tools. Or Full Blown SQL Server or Oracle is you really need something hefty.
Wether you use Access, or some other database, you can still use Excel for the front end work. I've done apps that just dump subsets of data into Excel so the user can play with it. Don't get me wrong, I LOVE Excel, it's unbeatable at desktop slicing and dicing, I use it every day. But it's not a data repository.
I tend not to work with the whole file at once but I still need to load it in to excel so I can reduce it down.
The app I wrote at my last place kept about 80 Gigs in SQL Server, but allowed users to define a few filters, and spit out the result to Excel to let the user play with it from there. By default it only returned 500 rows, but would let you override if you really needed more.