xCode 4 hangs... what to do?

Question

xCode 4 started to hang on any project under svn control. I use a remote repository which is accessible and works just fine from a command line. The only work around I was able to find is to kill local svn and checkout the whole project again. That seems to work for a bit but then the same problem shows up: xCode just hangs solid a few seconds after I start it. I would really appreciate any help to resolve this... Can't do anything :(

Please and thanks.

Log shows the following:

3/22/11 9:53:22 AM  Xcode[3295] [?T] ASSERTION FAILURE in /SourceCache/IDEFoundation/IDEFoundation-284/Framework/Classes/Model/SourceControl/IDESourceControlTree.m:2548
Details:  (addedItem) should not be nil.
Object:   <IDESourceControlWorkingTree: 0x201bf59a0>
Method:   -mergeStatusOperationResults:forLocalStatusOnly:
Thread:   <NSThread: 0x201bbb320>{name = (null), num = 13}
Hints:   None

3/22/11 9:53:22 AM  Xcode[3295] [?T] 
Backtrace:
  0  0x0000000100949843 -[IDEAssertionHandler handleFailureInMethod:object:fileName:lineNumber:messageFormat:arguments:] (in IDEKit)
  1  0x000000010006d484 _DVTAssertionFailureHandler (in DVTFoundation)
  2  0x000000010055f071 __78-[IDESourceControlWorkingTree mergeStatusOperationResults:forLocalStatusOnly:]_block_invoke_0 (in IDEFoundation)
  3  0x00000001000060cc __38-[DVTDispatchLock performLockedBlock:]_block_invoke_0 (in DVTFoundation)
  4  0x00007fff87da14db dispatch_barrier_sync_f (in libSystem.B.dylib)
  5  0x0000000100006073 -[DVTDispatchLock performLockedBlock:] (in DVTFoundation)
  6  0x000000010055db83 -[IDESourceControlWorkingTree mergeStatusOperationResults:forLocalStatusOnly:] (in IDEFoundation)
  7  0x00000001005dcd0c __77-[IDESourceControlWorkingTree updateLocalStatusForDirectory:completionBlock:]_block_invoke_01137 (in IDEFoundation)
  8  0x00007fff87da8284 _dispatch_call_block_and_release (in libSystem.B.dylib)
  9  0x00007fff87d86df2 _dispatch_queue_drain (in libSystem.B.dylib)
 10  0x00007fff87d86c54 _dispatch_queue_invoke (in libSystem.B.dylib)
 11  0x00007fff87d867fe _dispatch_worker_thread2 (in libSystem.B.dylib)
 12  0x00007fff87d86128 _pthread_wqthread (in libSystem.B.dylib)
 13  0x00007fff87d85fc5 start_wqthread (in libSystem.B.dylib)

Answer 1

Deleting if from "Organizer -> Repositories" does help.