I too was having the same problem. Fortunately the first suggestion (turning off "Retrieve additional information from the internet") from David did the trick; however, it seems this is a valid option that would be useful to keep my library accurate,
especially when adding new files to my collection.
I'm not quite sure why having this checked ends up lowering performance. It's true that - on my machine, with a 62 gig collection with 11,347 files - it takes only about three minutes to complete the task after starting up WMP. But it does in fact draw
significant CPU effort to perform this task, and 720p video becomes choppy during playback. I have a rather speedy 2.8Ghz core 2 duo machine (w/4 gigs of ram running RC 64-bit), and it seems odd that it would impact in such a way. Considering the disk utilization,
it appears it is re-reading every MP3 in my library - is this necessary? With the option
not checked, it does not do that, so it must not be required for any other task involved in maintaining the accuracy of my local library. So if the library is known to be valid, why must the "internet check" then hit every
file in my library? Could it not perform this function using the cached library and only update when differences are found?
A common use case will frequently involve opening WMP to play a video file - if that is choppy for the first few minutes, they will either opt for another player, or just be dissatisfied with WMP. It would seem either condition is undesirable for Microsoft,
and hopefully something they will remedy in a subsequent update of WMP.
All that said, Windows 7 is fantastic and a very impressive operating system - great job.