Here is some info I saved, if this is your problem it works great.
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Right click hang
Microsoft Knowledge Base Article - 819101
Temporary Decline in Performance Occurs When You Right-Click a File or
Folder in Windows Explorer
When you right-click a file or folder in Windows Explorer, the CPU usage
goes to 100 percent while the shortcut menu is displayed. CPU usage returns
to the correct level when the shortcut menu is closed.
To work around this behavior, use either of the following methods.
Method 1
Turn off the transition effects for menus and ToolTips. To do this, follow
these steps:
Click Start, and then click Control Panel.
In Control Panel, double-click Display, and then click the Appearance tab.
On the Appearance tab, click Effects.
In the Effects dialog box, click to clear the Use the following transition
effect for menus and tooltips check box, and then click OK two times.
Method 2
Click the folder or file that you want (select it) before you right-click it
to display the shortcut menu.