Macros take a long time to execute

Whenever I record a macro in 7.0.1.1066 the macro takes a long time to execute. Is there a preferences setting that reduces the delay between each macro step?
 
The macro is played at "full speed". Any delays will be caused by the processing required for the keys.

How slow is it, and what is the functionality of the macro?
 
It seems to be every macro I have tried (ones I recorded) at some point displays this behavior. The problem sometimes also occurs when I am just typing. There are times when I can type faster than it can display. But with the macros I would say this typing phenomenon occurs 90% of the time.
 
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