This is a very obsfucated problem to diagnose based on the limited information provided. I'd run the process on the XP machine and then on the Win7 machine and monitor process monitor and performance monitor and network monitoring tools during the process and compare what is happening to see where the latency/hanging is occuring. Does the application have logging or a debugging mode? Contact the vendor to find out how to retrieve that.
I doubt it has anything do with the network card and settings. Most of the consumer stuff is pretty sure fire today. Maybe if you provided more information on how the network is set up, where the mapped drives are, where the data is coming from (coming from the insurers outside?)
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