(Copied from original User Voice forum)
"Baking animation curves either with HIK panel or from the curve editor ought to disable viewport updating.
When baking animation curves, the bake is dramatically faster if there is no model panel updating.
What I have to do right now is switch to outliner or hypergraph, make that the only panel visible, and then bake. What I used to do, was tab to the output window and just cover up the modelpanel - but with windows Aero this no longer works.
Showing None in the modelview also helps, but not nearly as much as not having one visible at all."