I run into this problem a lot and it is very frustrating. Did you check if the process runs faster when the points are in a file geodatabase as opposed to in a shapefile? I am running a process now with a shapefile and a mix of raster types and it has already been running for 40 minutes.
Ok. To test this issue further, I imported the shapefile into File Geodatabase and reran "Extract Multi Values to Points" against with 12 raster datasets. It finished in 4 mintues and 51 seconds. The timing is acceptable as a part of my model. It also takes care of null values. It sets null value as "0" when shapefile is the input & set " " as null values for File Geodatabase.Linda
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