As I replied to an earlier post the slowness is probably due to the fact that your password has to be retrieved from the keychain. This is by far the most resource heavy thing the program has to do. It probably varies per system how fast this is. On my iBook G4 1.2GHz it took 4.5 seconds after the dock icon stopped bouncing until I could choose a folder. Full launch time was 8.6 seconds before I could do anything. That's not exectly very slow by my standards but it might be slower on other systems.

I appreciate the mention of this issue and I'll try to do something about it. I'll at least include an option not to use the keychain as it could be faster in some cases.