Slow opening MMC applications

After upgrading from Windows 2000 SP4 to XP SP2, all MMC based applications wait 15 to 30 seconds or more before opening. No excess cpu, disk or memory usage is noted during this wait time. Once it opens, it performs as it should. If I close the mmc app and then immediately reopen it (waiting under 10 sec), it opens quickly. Other non-mmc applications open quickly. If I open just MMC by itself, it opens quickly but any shortcut (like the ones in Administrative Tools), have this wait time. Any ideas?