Code running against Outlook is very slow when PST or OST is on a network folder or non-physical/non-VHD drive.

There is no support for performance issues with Outlook where the PST or OST are on a network folder or non-physical/non-VHD drive.  See below: Limits to using personal folders (.pst) files over LAN and WAN links https://support.microsoft.com/en-us/kb/297019 Note Customers are responsible for both defining and maintaining adequate network and disk I/O. Microsoft will not assist in troubleshooting…

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