This is basic maintenance... Have you removed everything in Temporary Internet Files?
Do a search and locate the folder. With Windows Explorer, locate the folder and open it. On the right side of Windows Explorer, delete everything found there (including cookies)... then look for the CONTENT.IE5 folder and delete all the subfolders under it. Then try opening Internet Explorer and pulling up websites.
Sounds like your Temporary Internet Files cache may be corrupted. If you have thousands of files in these directories, it will appear that pages will not open. It will also take quite some time to delete if there are thousands of these files.