Whenever I try to open a project in Visual Studio 2005 (Windows XP), my open project dialog become slow as molasses - navigating down one level of folders typically takes almost 60 seconds. Finding the project and opening it can take up 4-5 minutes, which is just ridiculous.

I've checked the open project dialogs of other programs - only VS2005 is acting this way. What could be causing this problem and how do I go about solving it (apart from reinstalling VS2005 / windows)

(Edit: Even VS2008 on the same machine does not have this problem. I don't know what's wrong.)

Thanks!