acroread 7.0.5-r1 freezes up after the first use and uses 100% CPU. The problem goes away if .adobe directory is removed, and acroread can be used again. However, the problem re-occurs after restarting acroread. No other acroread process are running. I downgraded to acroread 7.0.1.1 and the problem goes away for good.
*** This bug has been marked as a duplicate of 118511 ***