VLC player takes 5 min to open in Jaunty

I've noticed that VLC Media Player takes ~5 Minutes to Open in Jaunty. I just installed beta, but noticed the same behavior in Alpha 2 and 6. While the player is opening the processor is at 99-100%. My system is a 32bit 2.4Ghz Pentium4 with 1Gb of RAM and the file system is ext4. Once open, the processor drops to 2% and the player works fine. This same behavior happens with Amarok also, so i don't know what package to assign this issue to.

scott@scott-desktop:~$ lsb_release -rd
Description: Ubuntu jaunty (development branch)
Release: 9.04

scott@scott-desktop:~$ vlc
VLC media player 0.9.8a Grishenko
[00000001] main libvlc debug: VLC media player - version 0.9.8a Grishenko - (c) 1996-2008 the VideoLAN team
[00000001] main libvlc debug: libvlc was configured with ./configure '--build=i486-linux-gnu' '--enable-maintaner-mode' '--enable-release' '--prefix=/usr' '--enable-libtool' '--enable-fast-install' '--with-binary-version=1ubuntu4' '--disable-update-check' '--disable-gnome' '--disable-gtk' '--disable-familiar' '--disable-fb' '--enable-ggi' '--enable-sdl' '--enable-esd' '--enable-mad' '--enable-jack' '--enable-pulse' '--enable-lirc' '--enable-a52' '--enable-aa' '--enable-dvbpsi' '--enable-mozilla' '--with-mozilla-pkg=libxul-plugin' '--disable-kde' '--enable-mp4' '--enable-dvb' '--disable-satellite' '--enable-ogg' '--enable-vorbis' '--enable-shout' '--enable-qt4' '--disable-slp' '--enable-flac' '--disable-skins' '--disable-basic-skins' '--enable-skins2' '--enable-freetype' '--enable-mkv' '--enable-speex' '--enable-caca' '--enable-live555' '--enable-libmpeg2' '--enable-fribidi' '--enable-cdio' '--enable-mod' '--enable-theora' '--enable-modplug' '--enable-dvdnav' '--enable-gnutls' '--enable-ffmpeg' '--enable-ncurses' '--enable-smb' '--disable-gnomevfs' '--enable-bonjour' '--enable-mpc' '--enable-vcd' '--enable-vcdx' '--enable-notify' '--enable-twolame' '--enable-faad' '--disable-zvbi' '--enable-telx' '--enable-mediacontrol-bindings' '--disable-atmo' '--enable-taglib' '--enable-libass' '--enable-libdca' '--enable-realrtsp' '--enable-x264' '--enable-alsa' '--enable-dv' '--enable-v4l' '--enable-v4l2' '--enable-pvr' '--enable-svgalib' '--enable-dvd' '--without-dvdcss' 'build_alias=i486-linux-gnu' 'CFLAGS=-g -O2' 'LDFLAGS=-Wl,--as-needed' 'CPPFLAGS=' 'CXXFLAGS=-g -O2'
[00000001] main libvlc debug: translation test: code is "C"
[00000413] skins2 interface: skin: iTunes author: mdi; Ported and improved by Steven Sheehy

scott@scott-desktop:~$ apt-cache policy vlc
vlc:
  Installed: 0.9.8a-1ubuntu4
  Candidate: 0.9.8a-1ubuntu4
  Version table:
 *** 0.9.8a-1ubuntu4 0
        500 http://us.archive.ubuntu.com jaunty/multiverse Packages
        100 /var/lib/dpkg/status