Hi
This is a difficult one.
There may be a problem with the PC speed or the project file might be corrupted. Loading a BIG project with many clips and transition/effects can take quite a time to load. Although if the cache file already contains the project data it can be quicker.
What happens if you ...
Start VP.
Clear the unused cache files from the "Disk" option menu.
Load a short clip (NOT a long clip)
Place it on the sequence line and split it.
Add a blank frame.
Add a transition or two between the bits.
Save the result as a project. (a .vpj file e.g. TEST.vpj)
Close VP
Restart VP and open that new project..... Does it load OK in a reasonable time ?
If it does load OK then your VP version would seem to be working correctly. You could even try adding more clips to this test footage and repeating the save....If it continues to load back OK (even if it takes a little longer) then the problem is probably with your original project file.
If the above test doesn't work and the project takes ages to load then the fault might lie with your PC specs or the installation.
Borate has posted the specs you might need for editing HD MPEG4 H264 video.
Nat