Lock up when connecting to server

The problem is whenever I try connecting to an FTP server (whether by pressing enter or selecting a favorite), the app will do absolutely nothing and just lock up. What I do know is it uses 100% CPU and eats up about 1.5mb of RAM each second.
Uninstalling / reinstalling SmartFTP will fix the problem for a few days to a few weeks, just comes up completely at random.

+- System -----------------------------

Microsoft Windows XP Professional
Service Pack 2 (Build 2600)

CPU Speed : 731 MHz
Total Memory : 260592 KB
Free Memory : 98236 KB

+- SmartFTP ---------------------------

Version : 1.0.982.15
Time Stamp : 2004-09-02 04:26:36

+- Application DLL --------------------

controls.dll : 1.6.982.15
ftpapi.dll : 2.0.982.15
language.dll : 1.0.982.15
reseng.dll : 1.3.982.15
smarthook.dll : 1.0.2.1

+- System DLL -------------------------

shell32.dll : 6.00.2900.2180 (xpsp_sp2_rtm.040803-2158)
shlwapi.dll : 6.00.2900.2180 (xpsp_sp2_rtm.040803-2158)
comctl32.dll : 6.0 (xpsp_sp2_rtm.040803-2158)
riched20.dll : 5.30.23.1221
schannel.dll : 5.1.2600.2180 (xpsp_sp2_rtm.040803-2158)

+- Internet Explorer ------------------

Version : 6.0.2900.2180

+- Winsock ----------------------------

Winsock : 2.2

Update to the latest developer build. Then delete your registry key.

-Mat