I have found a strategy I like, it needed some optimization so I initiated the WFO, extended scoreboard, and exhaustive. I am running it on a laptop with an i7 processor. It is saying that it will take over a week to complete the optimization. (1.5 mil runs required) Is there something that I am doing wrong? If not, what kind of machine setup should I get.

1.5 millions runs is way too much and not required unless you want some heavy and typically useless curve-fitting. Modify the strategy's parameters to arrive at a meaningful and manageable set that won't take a week (but hours) by...

a. Reducing the number of parameters optimized at a time.
b. Reducing their steps.
c. Some preset strategies are configured in a way that they cover too vast, impractical optimization ranges e.g. from 2 to 300 whereas in reality one'd be using 2 to 20. (This is by design.)

I could've suggested "use a faster optimizer" but the problem here is not in PC requirements.

The settings are:
Walk forward intervals 5
out of Sample Data% 40

Window Sliding

Basic Scorecard
MonteCarlo

99600 runs.

Says it will take 1.1 hours/

Do I have it about right?

Monte Carlo is faster than Exhaustive optimization for reasons covered in the User Guide. As any strategy can be curve-fitted, there is no 'wrong' and 'right' answer as well as no hard and fast rule that covers all strategies.