Storage space allocation page and storagemanagementinformation method of site time out.

This is a MOSS 2007 related question. I couldn't find the appropriate category(I think I saw 'pre-sharepoint 2010' category before) so posting in this. Please move it to the correct one.

When I click on 'storage space allocation' page in site settings, the page takes really long and eventually comes back with 'request time out' message. Alternatively, I tried to use the below code: 

[system.reflection.assembly]::LoadWithPartialName("microsoft.sharepoint")
$site=New-Object microsoft.sharepoint.spsite("http://intranet/products")
$doclibstop10 = $Site.StorageManagementInformation(2,0x11,0,10)
$site.dispose()

This too takes really long time. I am actually posting this while it is still running(guessing it is going to time out as well). How should we proceed now? Under site collection quotas page in central administration, this site collection almost consumed its allocated storage(went well beyond the email warning limit).