MS Word slow to display "My Computer" contents

Whenever I select OPEN (or any other 'command' which needs to display the contents of a folder) MS Word automatically opens "My Documents" (by default) virtually instantly HOWEVER if I then (choose to ) select MY COMPUTER there is a very long delay before anything (ie the icons for all my drives etc) is displayed. When I then select a drive that opens almost instantly but if I then 'return' to (display) My Computer the long delay occurs again.
This same delay occurs if I select (say) INSERT > PICTURE > FROM FILE and then select MY COMPUTER) - there is a very long delay before anyrging is displayed. This delay only seems to occur when I select MY COMPUTER when looking for a file.
I have watched the drive light on my PC (in case there was evidence of disk thrashing even though my drives do not require defragging) but did NOT see the disk activity light flashing during the delay (explained above).
Any ideas? Is Windows/Word doing some special seek whcih can be eliminated by some setting?
Thanks

 

Thanks Steve for your much appcreciated quick reply.
Just in case I simply RENAMED IconCache.db. I did notive that it is quite large (4.5MB). Is there somewhere I can read how this file works and what it does and what it is for? I am thinking that it never gets cleaned up and simply gets added to on a regular basis and gets 'defragmented' - is this true? If so should I then perhaps just 'empty' it?
What is the DISadvantage in not having the file?
Thanks again.
John

 

Since my last post I have found that by deleting IconCache.db the delay (in displaying My Computer mass storage devices) still persists.

The delay (around 10 seconds - a real nuisance) only occurs when I display My Computer, when a device is opened or folder there is NO delay.
This delay only occurs within WORD. When I open My Computer from the (Windows) 'workbench' there is NO delay.
I typed in this problem into a search engine and found a few links from other people who obviously have experienced the same delay some suggesting that it could have something to do with opening USB thumb drives and others suggesting that it could be associated with reading devices on a network. I removed my USB thumbnail device (I use to backup to) and that made no difference.
As the problem only occurs withing WORD I must consider that it has something to do with WORD.
I will continue hoping for some more suggestions.