Photoshop CS3 Hangs when opening files

PS hangs when opening, duplicating images. The longer it's on the longer the wait. I'm talkin' 15 - 20 seconds. Deleted the prefs multiple times.

Anybody else having this problem?

Set your default printer to something local, that is actually hooked up. When Photoshop creates the document, it asks for the default printer information - and your printer driver is taking a nap while trying to connect to the printer.