Struggling for months with this issue I wondered what Microsoft thought to be helpfull with this option.
Why make things easy if you can frustrate millions and have fun selling software to solve it?
Well, this answer set me off in a direction of, which I found to have solved the problem !
My folders open fast as a fury now and even rightclicking on them opens the properties in a blink of an eye.
Beleive it or not. Here an contribution from a Dutchy. Advanced user, but no pro at all!
This is what I did;
I disabled a lot of the Indexing locations (we still want to index, huh, don't we?)
Go to Control Panel and open Indexing Services.
Untick all useless indexing locations. (you can go in detail by pointing at the small triangular arrow and go deeper in the system.
Keep only the Windows user and Program files.
Use your common sense when picking what to disable and what not, I can not list them all here for you.
This helped me a great deal and solved the problem for me.
If you have success too, please tell others on all the fora about this issue.
If success, drop me a line, we'll discuss my fee afterwards ;-)
Hope this will help the world working Windows 7