You got further than me and my friend. If the game didn't hang while loading the multiplayer character creation then as soon as we got into the game and moved my friends character would run off into the distance straight through obstacles/mountains etc and usually die in the lava in the villa.
Also, if we saved as soon as we loaded up the save would hang.
For the loading saving problems it was just like yours, wouldn't appear to be frozen because when loading the tops still cycle, and when saving the symbol still rotates. But it never finishes.
