on a 486, Lotus 1-2-3 was essentially instant - even from floppy disks it would run faster than excel does today on a top of the line machine
As far as I remember, my Win 3.11 machine (a 486 DX with 4MB RAM and 30MB HDD) wouldn't be able to store or open such a file, let alone recognize the extension. Also, it would call the file 2026022~.XL~ or something. And it took more than a couple of seconds to load office programs for sure. It would take well over a minute to load a book from a 1.44MB floppy.
Anyway, software and computers have come a long way and I'm grateful for it.