Emulator

What steps will reproduce the problem?

1. Try to enter Training or Versus mode(versus CPU, can't test versus 2P)
   2.
   3.

What is the expected output? What do you see instead?
Expected character select screen. Instead it freezes on loading screen.

What version of the product are you using? On what operating system?
Rev 2656(though this issue has been reported on the forums on much earlier
revisions as well I believe). Win XP 32 bit.

Please provide any additional information below.
Everything else about the game works perfectly, the character select screen
loads fine when playing Story, Arcade, Tutorial and so on.