I had a problem like this way back when PPT 2007 had first been released. I
finally had to break the file into 10-slide chunks and save those as 97-2003
format, then reassemble the file in 2003.
You might try running diagnostics (Office Button | PPT Options | Resources),
then download and install SP1 for Office 2007.

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Echo [MS PPT MVP] http://www.echosvoice.com
What's new in PPT 2007? http://www.echosvoice.com/2007.htm
Fixing PowerPoint Annoyances http://tinyurl.com/36grcd
PowerPoint 2007 Complete Makeover Kit http://tinyurl.com/32a7nx
>I am trying to save a powerpoint that was done in 2007 as a save as for
> powerpoint 97-2003 and keep getting an error that states "Powerpoint found
> an
> error that it can't correct. You should save your presentation, quit and
> restart Powerpoint." Any ideas on why this won't save?