>>>Armadillo users seem to have reported Reporting difficulties with Excel Automation/Output and slow speed.
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>>I cannot attest to these issues. You will need to try it out yourself. They are quite helpful and I am sure they will refund you if you cannot make it work. Send them an email to ask them about this. Armadillo can be considered one of the stronger protections.
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>Although I am most interested in Protecting from decompilation.
>Does Key generation in Armadillo basic help in Copy protection? as users can simply pass on their keys to others.

Key generation can be tied to machine specific attributes.