File>Open VERY SLOW

I have just upgraded my machine to SW 2011 sp4. I am running on an x64 platform. Previous to this, I have never had this issue but now when I click File>Open within the SolidWorks interface, I am faced with a minimum 15 second delay until the file dialog window opens. Does any one have any idea what may be causing this? I didn't upgrade my 2010 instalation, I started over clean. I don't see why it would matter, but my graphics card drive is using the latest and greatest SolidWorks certified driver.

Any suggestions would be greatly appreciated but a solution would be best!

SolidworksUser Interface