I am having this problem.
the locations you see are either on the c: drive (downloads) or a different drive letter d: (video)
Once the icons come up I have no issues accessing library (aka the pointers are working fine) and no issues accessing any files within those locations.
I am using a intel i5 cpu, 4gb of ram, 1x1tb HDD with 50% free space, c: drive is 300gb with 50% free space. Windows 7.