How long is the project? What version is being used? Here's the latest. For licensed users upgrades are free for up to six months from purchase date. After that, VP will continue to fully function but a fee will be required in order to register the newest. Retain your old install file and registration info.
Don't clear the cache if it's the same project. Reloading should be quick.
To stop it from finding the peaks, try unchecking 
under the OPTIONS | Media tab.