I can't help you. But I can confirm I have the same problem. I have moved my files to several computers with the same results. Everytime I try to move to a new folder, it hangs for about 90 secs then I click several more times, it finally comes back.
This just started happening and I haven't installed anything new. Using any Office 2003 program (outlook, word) - when I go to insert a file, and then click on the "Look in" box - the program will not respond for a very long time. Eventually, it will come back to life and I can then browse to the folder I want.
Can anyone help fixing this?