SLOW Word and Excel Keystrokes in Office 2003 networked files

Both Word and Excel 2003 are operating very slow just navigating cells in
Excel or typing new info into either. This is apparently occurring in files
on our network server although I think the problem exists in local files as
well. I used filemon to monitor disk and network activity and found many
messages being sent to read from the network file after each keystroke. This
also happens with local files but the transaction speed is higher so delays
are not as noticible. I reinstalled Office but the problem still exists.
Similar behavior does not occur using notepad or Wordpad. I think it is a
registry setting but don't know where. Any help would be appreciated.