I do, and even sent a log to Matt once, and he was very helpful in figuring out that MC was looking for a drive that had not been used for months.
Interesting. So, on my test setup, I used a restored library from my every day use MC, including the settings, so I logged it. The closest I could see to the above is shown below...
0038282: 1132: General: CFileSystemManager::GetDriveExists: Error using connection '\\NETTIE-PC\Users': 67
0038282: 1132: General: CFileSystemManager::GetDriveExists: Drive does not exist (drive: \\NETTIE-PC\Users, filename: \\NETTIE-PC\Users\Nettie\Music\iTunes\iTunes Media\Music\)
0038282: 1132: Handheld: CHHManager::InitializeProxyDevice: Finish (38064 ms)
0038282: 1132: Handheld: CHHManagerMap::EnumDevices: Finish (38064 ms)
0038282: 1132: Handheld: CWMDMThread::ProcessMainThreadMessage: Finish (38064 ms)
Now, I'm not certain if this is the hang, what's 38,000 ms, about 4 seconds? The hang is certainly longer than that. For example, if you're quick, you can launch MC, then get the "Logging" options open before it hangs, at which point, the logging options window loses all it's skinning, falling back to a Windows 7 frame that proclaims "Not Responding" in the title bar.
Anyhow, this was a failed attempt at setting my wife's laptop as a "hand held device" about 10 months ago. It never really worked out (because my wife's a technophobe) so I moved on to a different solution.
As this was the test machine, I hit the "redetect devices" option and restarted MC, and sure enough, the big lag has gone. I performed highly technical testing to verify this, which involved launching MC, then moving the mouse up and down a list, watching the "hover marker". Usually, about 5 seconds in, it would stop following the mouse, and the freeze was on for 10 seconds or so from that point. Now, having redetected HH devices, there is the slightest of hiccups, literally a fraction of a second, and that's it. No more freezing.
Now, here's the thing...
I absolutely do not want to be hitting the redetect button on the main MC setup. So, instead, I am going to try something else and will report back shortly...
-marko