Nope... it's off a fresh install. It's just the looting that has this weird delay. The pipboy menus are actually fine (eventually). Maybe I should look for a mod that changes the loot window, maybe it'll fix it? :S Why would there be such a problem off a fresh install?
I installed Fallout 3 again on this new comp (I used to play it on my laptop) to see if there was a similar lag there. Seems like there is - so it IS my system afterall =(
Odd how looting is laggy regardless of graphical settings, and especially since both games run fine on ultra-high for me. Sigh.
Edit: Or is looting supposed to take 1 second to load? I just remember it being faster when I played fallout 3 last time... maybe everyone also takes 1 second to see the loot menu.