My experience is that the speed and stability of Numbers with large spreadsheets is poor.
FYI ... I'm running a new MacBook Pro 2.4 GHz with 2 GB of ram.
Initial startup after a system restart is not bad (9.5 seconds). Excel clocks in at 10.5 seconds.
On subsequent application restarts, Numbers opens in 1.5 seconds, Excel opens in 3.0 seconds.
Ok, so I'm thinking that Numbers is looking pretty good.
*Speed with a Smaller File ...*
Then, I try to sort a pretty basic product sales spreadsheet for my company. I export a tab delimited text file out of a 4D database that has 570 rows and 17 columns. To open the text file in Numbers ... 4.2 seconds. Excel opened the file instantaneously ... only gripe here is that I had to click "Finish" in the text import Wizard, but even with that, it only took 2.1 seconds.
Sort everything based on the information in a column in Numbers' "Basic" style ... 2.2 seconds. In Excel ... 0.6 second.
*Speed with a Larger File ...*
Ok, so now ... switching to a file with 14,205 rows and 8 columns.
To open the file: Numbers ... 31.5 seconds; Excel (even with having to click on the "Finish" Wizard button) ... 2.7 seconds.
To sort by a column (zip code, in this case): Numbers ... 12.0 seconds; Excel ... 0.8 seconds.
However, I then noticed that that column that I was sorting in numbers had been imported in number format ("00961" imported as "961"), so I tried to convert the column into text format ... 10.3 seconds. Then, I tried to sort on that column again ... 3 minutes later I forced quit Numbers. I tried this two additional times with the same result. Also, I've tried similar tasks with several large files and had similar results ... the application hangs when faced with big tasks.
My conclusion is that Numbers is fine for smaller files. However, it is a real bomb with larger files.