I can confirm this behaviour on Ubuntu 8.10 amd64.
Disabling the the file browser plane plugin resolves the issue.
My assumption is that the plugin "hangs" looking for a removed file or
network file.
** Changed in: gedit (Ubuntu)
Status: Invalid => Confirmed
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gedit takes 1 minute to open when using "File Browser Pane"
https://bugs.launchpad.net/bugs/80438
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