So if you try to launch Audacity with audacity.cfg containing:
NewPrefsInitialized=1
[AudioUnits]
Enable=0
GUI=0
[VST]
Enable=0
GUI=0
Rescan=0
as per the instructions at http://wiki.audacityteam.org/wiki/Audio_Units#Slow_launch_or_hang , does Audacity launch OK?
Gale