As the OutlookEX UDF - Help & Support thread has grown too big, I'm starting a new one.
The original thread can be found here.
Here it takes about 25 ms to run the following script:
Local $hTimer = TimerInit()
Local $oOL = _OL_Open()
ConsoleWrite("OUTLOOK CONNECTION OPENED. Duration: " & TimerDiff($hTimer) & @CRLF)
Which version of Outlook do you run?