Well, it's bizarre. I turned some Add-ons off and on, and in different combinations, and it didn't seem to make any difference.
Eventually, after a reboot because the browser was crawling... as in s-l-o-w... there was an update for Adobe Flash Player waiting for me, so I did that update (to v10.1), and IE has been working fine since. Don't know whether the Flash Player was the problem or not. Anyone else experience this?
gouri... have you fixed your problem with IE7?