Integration builder taking too long to open. Pls help

Hi Experts,

   My system got recently updated with Java 7 and whenever I tried to open PI 7.31 integration builder I used to get

   LAZY CLASSLOADING FAILED  error. But after uninstalling existing Java 7 and installing with Java 7 patch 40 it started working fine.

   However now it takes too long to open repository and directory (almost 30 minutes).

   This is happening not just the first time but every time.

   I understand that first time it takes time but on on subsequent loads it should take from Java cache and hence should be fast.

   What shall I do to resolve this slowness? Please help.

Thanks

Gopal