Will more RAM help handle large Excel files?

Hi everyone,
I know this message may be better suited to the Office for Mac Forums website, but the site hasn’t been able to validate me as a new user so far (it's been weeks of trying!), and I’m therefore unable to ask a question. So I have to resort to annoying you here.
I run Excel 2008 (12.1.7) on a 8-core Mac Pro (early 2008) with 6 Gb of RAM (OS 10.5.6). I encounter a lot of problems working with big files, such as a 385 Mb file comprised of over 600,000 row and 50 columns of mostly data (only a few columns are filled with simple formulas).
After loading the file (which took quite a while), the Activity Monitor indicated that Excel was using 1.12 Gb of Real memory an 2.11 Gb of Virtual, while 3.66 Gb of RAM was free. When I then attempted to create a PivotTable with this data, the amount of memory used by Excel gradually rose to 1.94 Gb of Real an 2.93 Gb of Virtual (2.85 Gb of Free memory was still available) while reading the data. At this point I then got a message stating that there’s not enough memory. I had to resort to breaking the file up into smaller ones to analyze the data, which is quite annoying.
I was told that being a 32-bit application, Excel 2008 was limited to handling 4 Gb of RAM. But I thought that 4 Gb being way more than the size of the file on disk, and having 6 Gb of RAM on my machine, I shouldn’t have any problem working with it. Obviously I was wrong. Can someone please clarify what’s going on here? Would more RAM significantly help?
Any help will be greatly appreciated. Thank you!

Yes, I bet the Windows version of Excel is better. I think it’s definitely time to try it.
When you say “having 8 DIMMs”, do you mean filling up the 8 memory slots, or having 8 Gb? I believe I remember seeing that 10 Gb was the sweet spot, with all 8 memory slots occupied. Is that right? And what brand of RAM do you like currently, still OWC?
Thank you Hatter.

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