In LabVIEW 6 (professional version I think), the deallocate memory as soon as possible option is under Tools >> options >> performance and disk. However on LabVIEW 7 (base version) it is not there. Does anyone know where the option has been moved to or is the option AWOL?
I believe they're trying to encourage developers to use the Request Deallocation node (on the Advanced >> Data Manipulation palette) instead. This node will allow you to specify memory deallocation on a per-VI basis instead of globally for all VIs.