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I am SO happy I've found the solution to this annoyance - from

1.45 Using Windows Roaming Profiles may cause first time launch message to show on each startup.

When any one of the Visual Studio family of products is used with Windows Roaming Profiles, the first time launch message that says "Visual Studio 2005 is configuring the environment for first time use. This might take a few minutes." might appear on every session startup. This might cause unnecessary slowdowns in startup performance.

To resolve this issue

Click on the Tools > Options... Select "Import and Export Settings", and change the path under "Automatically save my settings to this file:" to a path that is NOT under the "My Documents" directory.