I'm working on a MAC FCP 7. Have numerous FCP projects on the computer. Everything worked yesterday. Today, my FCP projects are opening after about 5 or 7 minutes. QT movies are opening and playing but FCP loads and the multi-color wheel of death just keeps turning and turning and turning over the white square that says Final Cut Pro.
I don't know why this is suddenly happening.
Usually it's because the project files are excessively large or you're opening too many at once.
A project file getting much more than about 50MB can start slowing things down, if it happens (and project files can bloat up quite quickly without you noticing) create a new project and copy anything you're not using into that and delete them from your main project.
It might also be worth cleaning up your preference files. Do a search on here (it's come up a few times) for how to do that. There's a free program called FCP Rescue which makes it simple.