Try IE's Safe Mode, (without add-ons). If IE is able to connect then, you know an add-on is causing the problem.
To do that, go to Start > All programs > Accessories > System Tools > "Internet Explorer (No Add-Ons)".
If that fails open IE normally then goto Tools > Internet Options, then the Connections tab. Click the LAN Settings button and in the new window see if any Proxy Settings are present. if so, remove them.
Compaq Pesario Model SR1900nx
Win XP Home
I was given this computer. It works fine except IE will not load. Just sets there saying "connecting" It has Google Chrome that does work and I can log on to the INTERNET but I also need IE for some applications. I uninstalled IE Reinstalled IE7 no luck. I downloaded IE8 and installed and no luck. I have run AVG Virus and Malware bytes. Nothing has turned up as a solution. Would appreciate any other ideas before I do a format and a clean install.