Thanks for the quick response.
Yeah, I know about Vista; been there, done that and decided to revert to XP. Not multimedia friendly but also not a memory hog and definitely more user friendly. :)
I tried clearing the search box but that made little change. My slowdown is probably 5-10 times as previous so unless others are FTM2012 users are experiencing the same issue I think my XP installation is probably the problem.