To resolve the problem with the projection wizard, I uninstalled ArcView
and then reinstalled it with the Virus software deactivated.  The
problem hasn't reoccured.

Thanks to:
ESRI tech support
Steve Morse
Orhan Gunduz
Heather Goldman
David Caldwell

My original problem was.

I'm having a problem with the ArcView 3.2a projection wizard.  It is
extremely slow to initialize (and file processing).  In many cases it
takes 5-10 minutes just to initialize either from within ArcView or from
the program menu.  Has anyone encountered this?

I'm using 1 gig of ram and dual 800mhz processors so overall workstation
performance shouldn't be an issue.