I am getting the exact same thing - only my playback delay is closer to 3 seconds.
I'm editing a lecture which is about 1:21:00 long. When I play the Sync Timeline (the source of the mutli cam sequence) the play response is immediate. When I'm in Multicam Mode I have to wait at least 3 seconds before playback begins. And my machine is pretty beefy.
Then I discovered what the problem was!
I was working with an M2T file and an MXF file. The audio from my lecture was embedded on the M2T file. If I rendered the audio as a Windows Waveform (DV settings: 48K, 16 bit stereo), the response goes from 3 seconds down to not even half a second - something that "feels" like I can do work again.
So if you're experiencing playback delay - try re-encoding your audio into something that the computer will have an easier time with.
Welcome to the forum and thanks for posting that.
Question: were you able to use Render/Replace on your encoded Audio to convert it to a PCM/WAV and then replace the encoded Audio on the Timeline? Note: this only does the Replace on the instance in the Timeline, and not in the original source Clips in the Project Panel.
PS Edit in Audition (or Soundbooth) basically does the same thing. Render/Replace does it without openeing either of those programs.
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