I have the steam version of RAGE and when I click on it to launch it I'm forced to wait upwards of 15-20 minutes to play it. Imagine putting a gaming into a console and waiting that long until it actually launches. Anyone have a similar problem?

really? removed video folder. try it again.

Nope, didn't work. Also here are my specs:

Windows 7 home premium 64bit
core i5 2400
8gb DDR3
HD6950 2gb with 11.10 driver

I think that AMD 11.10 causes trouble? why don't you roll back to 11.9, then see what's happened? I actually did this way. I didn't have your problem but technically screen tearing, texture pop in badly. so I rolled back to 11.9, verified the game, restart steam. boom! no more technical problem at all so far. it's strange how it was solved. but it works. I am happy not to see ugly mosaic all over the place.

not the drivers it's the un-tested game that needs a Patch

So it's pretty much up to the dev to fix it?