Just built a new PC with a Gigabyte GA-8KNXK MB, Intel P4 3.0GHz / 800MHz FSB CPU, Corsair TWINX 1024 3200LLPT DDR RAM, ATI AIW 9700 Pro video board driving a ViewSonic VX2000 20" LCD display, Seagate 120GB SATA HD, Sony DW-U010A DVD burner, Yamaha CDRW and a USR PCI modem (non Winmodem) operating under WinXP Pro as the OS. It took some fiddleing to get it to install WinXP properly due to difficulties running the memory at the 200MHz (x2x2=800) but when I slowed the clock down that problem went away. So, I then downloaded all the updates for WinXP and loaded in some more of my apps (Office XP Standard, Easy CD/DVD Creator 6.0) and updated drivers for the hardware.
At this point the PC would boot completely in less than a minute.
Now I finsihed installing my other apps (Quicken 2003, Norton SystemWorks 2003 Pro, ZoneAlarm Pro, etc.) and now the PC takes more than 2 minutes to boot. I can watch the system tray as the apps load and in less than a minute the PC is up with most of the icons in the systray visible -- then it just sits there for more than a minute at which point the icon for ZoneAlarm pops up followed shortly thereafter by the icon for Norton Antivirus. During this time if a double click a program icon the PC takes more time than normal to load.