I appear to be having a very similar issue to someone else, however, I'm not particularly sure how to solve it myself.
https://groups.google.com/forum/#!topic/lr-loadrunner/Wl4wJnZMQLI
"I have noticed that the LR 11.5 script code generation using (web http/html protocol) was taking too long to complete(around 20 minutes), especially it is taking a lot of time in 'performing scan for correlation post generation operation.'"
The reply:
"You may change the correlation configuration by allowing rule correlation only, the other 2 correlation engine will take more time than rule."
How exactly do you change the correlation configuration? I found an option to do so in the recording options (Ctrl+F7), but I'm not sure how to enable 'rule correlation only.' Can someone explain this to me?