does this happen at the lineup screen? or the main loading screen?
either way, when i had this problem it was related to the number of replays i had stored. more specifically, items in the save folder.
i deleted some of the replays which i was tired of watching, and after deleting them, the game worked again.
before you do this, backup your saves folder (my docs/konami...../save)
in case the problem you are having is not because of the replays. if it is the replays, i hope it helps.