maybe someone can let us know if they are having the same experience as myself.
Yes, this has been discussed a lot earlier on, but worth mentioning again as more and more people go to Qimage Ultimate.
When Ultimate comes upon a folder that it hasn't seen before, (and if you are using it for the first time, then any folder is a first time), it will build all new thumbs followed by a cached copy of your Raw file (assuming you have raw images in the folder).
The point is, it needs to build this folder of cached images and thumbs once, the first time it encounters the new images.
After that, not only do the folders open immediately, but opening any Raw image regardless of the number of megapixels, is a 2 second wait instead of a 40 second wait.
Hence the name, Lightning Raw.
Give a chance to settle in, and you will never look back.
Fred