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I just downloaded 0.9.7, and had to do the first time set up. Once I finished setting it up, and clicked "Next >", it brings up a tiny window that says "Applying Settings." It won't go past this window. I found an older thread saying it was a SPU2 problem, and a fix was posted there. I tried that, and it still isn't working. I can run older builds just fine, so I really don't understand.

If it matters at all, I am on Windows 7 Professional 64-bit.

Try uninstalling the emulator and deleting all the ini files it has generated, then reinstall it again. Also try a location like C:/Emulation/PCSX2

Hmm. Changing the location worked. Odd o_o Thank you very much for the solution, though