[Jo Armstr]

I too could not load ANY existing sizeable projects in CS4. They would hang at around 95 percent loaded. Eventually (even hours later) I got a \Importer\FileImporter.cpp-1132 error and Premiere Pro CS4 crashed.
I fixed this by opening the project in After Effects CS4, then saving the project as a Premiere Project. I opened it in AE, but had lost all my sequences. Opening the original (Premiere-created) project again then was ok in Premiere. Around 15min load time.