I installed Reader after having the exact same problem with Acrobat X and 9. I open the software or a pdf file, it opens, the file is displayed and then I just get a spinning wheel for up to an hour.
I've uninstalled, reinstalled, deleted preferences, repaired permissions and every other suggestion that every forum I can find suggested. I have no plugins installed.
The softwares are obviously installed properly or they would never open at all. But even once the file is open and useable, if I close the program and reopen, it hangs again. Seriously, an hour of a spinning pinwheel on any file I attempt to open or even just opening the software from the applications folder.
nevermind- I accidentally had 41,000 fonts activated in FontExplorer