We all appear to be having the same problem. At least we know we are not alone.
Interestingly increasing the update time in the options tab increases the number of files scanned reported before the hang.
Update time - Default
[May 17 12:10:08] Analyzed 900 files containing 10.67 MB of data so far
Update time - 16
[May 17 12:11:24] Analyzed 1400 files containing 16.52 MB of data so far