I have 6.0.3 on one machine, 7.0.3 on another (similar machines, see my specs). 6 takes 1 minute 3 seconds to launch. 7 takes between 6 minutes 30 seconds and 7 minutes. How long does yours take?
I also see that if I leave 7 unattended (no activity) for a while, say 10 minutes, when I come back it starts taking forever to do anything and I get "not responding" warnings.
Memory leak?
EDIT: If I disable LAN it launches in 1 minute and change. Looks like it's the old problem that was supposedly fixed in 6 (which I never had until now) where meadia streams mgr is endlessly checking network drives.