Spreadsheet systems are used for storing and analyzing data across domains by programmers and non-programmers alike.While spreadsheet systems have continued to support increasingly large datasets, they are prone to hanging and freezing while performing computations even on much smaller ones. We present a benchmarking study that evaluates and compares the performance of three popular systems, Microsoft Excel, LibreOffice Calc, and Google Sheets, on a range of canonical spreadsheet computation operations. We find that spreadsheet systems lack interactivity for several operations, on datasets well below their advertised scalability limits. We further evaluate whether spreadsheet systems adopt database optimization techniques such as indexing, intelligent data layout, and incremental and shared computation,to efficiently execute computation operations. We outline several ways future spreadsheet systems can be redesigned to offer interactive response times on large datasets.