20 Second Logon Delay with Internet Explorer 7 - IE branding

There is a known issue with Internet Explorer 7 and IE branding.

http://support.microsoft.com/kb/941158

The fix is to install the hotfix and add a regkey
HKEY_LOCAL_MACHINE\SOFTWARE\Microsoft\Internet Explorer\Main\FeatureControl\FEATURE_PARSING_BRANDING_CMDLINE_FLAGS_KB941158 
Value= *   
Data = 1

Type = REG_DWORD