My software has stopped saving the track information onto cds when I burn them (the check boxes still show these options selected), and saving to my hard drive has started to take forever. My system is running Windows 7, was there an update that may have kicked the VS to the curb?
No, we have made no changes that would explain either of these two problems. What are you using to play your CD's? WIndows Media Player does not display track information by default - you have to download a plugin called WMP CDText.:
http://www.hydrogenaudio.org/forums/index.php?showtopic=56780
As for the speed problem, is something else hogging the CPU on your machine? Press Ctrl + Shift + Esc to open Task manager and check the CPU usage when the machine is otherwise idle. If the CPU is busy, you can uncheck 'Reduce priority while working' to speed things up, but really you should address the problem at source. You might also like to run some benchmarks. SiSoft's Sandra is good (the Lite version is a free download):
http://www.sisoftware.net/?d=&f=downandbuy&l=en&a=
HTH