Runtime is based on the numeber of rows, the database, the connectivity and efficiency of the database (indexes, etc.), etc..
How long would it take to extract the same data directly using SQL?
Check the Database->Show SQL Query to make sure that the SQL reflects the date criteria and all other criteria within the Report->Edit Selection Formula->Record.
And post what's in the record selection formula, not a pseudo version of it if you want meaningful help.
Quality technical assistance is dependent upon real technical information, not a text description.
-k