Objects Freeze when I select them in Hierarchy

I just bought the Unity Indy/iphone package the other day. Everything seems to work fine, but when I load in a mesh (FBX) and select an the object the program freezes for about 5 seconds. If I try to move it (mesh or anything else such as lights or a cube) it freeze again. Not sure what to do here. I tried searching the Unity forums, but there is 650+ iteams when you type in the word freeze.

I’m on a Intel mac OSX 10.4, 1 gig of ram, Quad-Core 2.0 Hz it’s about 2 year old.

Well I just updated to OSX 10.5.6 and it seem like everything is ok.