I find that blurs can take a LOT of render time, as can any dynamic link between CS applications.
To help isolate the problem, you could turn off different effects to see which has the most impact on render time. One suggestion would be to use a very short version of your project (maybe 15-30 frames) and turn off HALF of the effects and see if it changes the time significantly. If so, you know that one/several of those effects may be the problem. If render time doesn’t change significantly, you know that the other half of the effects might be causing the problem.
Continue turning off half/quarter/etc of the effects until you determine those that are the most render intensive. Once you isolate the cause, you can decide if there are other solutions. Also some 3rd party effects do not use all available processors in your i7 – I’ve seen a few that only use one of the cores, meaning that everything is waiting for that one plug-in to process.
Something else to consider: a hundred 48megapixel PSD layers might be more than even your 12gb memory can handle, particularly if you have other things running at the same time.
Jim