I think it is a Firmware the probleme. Look this, i have the same probleme. The loading as infity ... Thx for the version 4.07.
I chose a firmware on
http://www.s1mp3.org/fr/downloads_fw.php and i take
E09_512M.7z MD038 MP4 with Touch Screen JJ Fugazi because i think it is a good for me and the loading dont want to end.