Sorry for yet another thread, but my BB has been acting up lately. Sometimes I'll be browsing through my phone, not browsing the internet, but just general app usage and such, and the hourglass icon will show up and stay there for varying periods of time, usually several minutes or more. Sometimes this happens when my phone is locked as well, so it sometimes takes minutes just to unlock my phone. Any help is appreciated!
Sounds like you've got too many apps installed on your phone. Go to options -> Status. If the number next to File Free is smaller than 15,000,000 (and especially 12,000,000) you need to delete some themes/apps.
You could also search the forum for how to shrink your OS.