Convert Formulas to Values

One of the most common tasks in Excel is converting formulas to values. In Excel 2003, you could do a Copy, Paste Special-Values. In 2007 version, this operation is easier than ever. You just need to Ctrl+C to copy the range you want to paste the values and, without opening the Paste Special dialog box, you can go to Home, Clipboard, Paste-Paste Values. Then just press ESC to cancel the Copy mode. This way you will be replacing the formulas on your range by the current value that they return.
Instead of copying the values on top of your formulas, you can copy them to another location, leaving the formulas intact.