The last cell in Excel 2007 is
XFD 1,048,576
There are 16,384 columns and 1,048,576 rows.
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In Excel 2007 the number of rows per worksheet is 1,048,576 and the number of columns is 16,384 which is column XFD. That makes 17,179,869,184 cells.
There are 16,384 columns (A - XFD) and 1,048,576 rows, for a total of 17,179,869,184 cells per worksheet in Excel 2007.