I have exactly the same problem with the main menu.
The only difference is that sometimes it lets me create a character and after 5 minutes or less the game "hangs"...
I can run in place, others characters run in place, the world keeps moving or running in place, the sound keep functioning and when "running" I can hear the steps.
Moreover, just to try something new, the problem in the main menu presents sometimes during a dialog. You see che possible answers, you click it but nothing happens.
I tried everything... Even formatting... Then i chose to wait for a patch... Now the patch is out... nothing changes...
Well... now it's been a month I bought D2 and I haven't played it yet.
What will I have to do? Sell the game?
