Over the last month, I've tried several times from SSMS 2012 to connect to 2 remote SQL Servers, one is 2005 and one is 2008, both at shared web hosts. I'm able to connect, but right after connecting when I try to expand the Databases node in object explorer, it hangs and never expands (it's just busy working and becomes unresponsive). As they are shared web hosts, they have a lot of DBs on them, and I suspect object explorer may be getting hung up on a DB there. I always end up having to end SSMS via task manager. With SSMS 2008, I was able to connect to both of these DBs at these remote servers and had no problems.
I am able to open a query window to the server ONLY if Object Explorer is not involved. I can do this either via File -> New Database Engine Query, or by right-clicking on the server in the Registered Servers area and selecting New Query. In both these cases, Object Explorer is not involved at all and I can then run queries. However, I need Object Explorer too so I can easily work with the existing tables, procedures, etc.