If it seems that something is preventing Outlook from launching correctly, this "something" could well be a part of the application itself.
Preventing Outlook from checking certain files upon launch can help to fix this issue, and can be done relatively simply by renaming the files in question.
To do this, follow the file paths below.
(In Windows XP)

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C:\Documents and Settings\[username]\Local Settings\Application Data\Microsoft\Outlook
(NB: [username] denotes the folder that matches the username used to sign in to the computer)
(In Windows Vista and 7)
C:\Users\[username]\AppData\Local\Microsoft\Outlook\extend.dat
C:\Users\[username]\AppData\Local\Microsoft\forms\ FORMS\FRMCACHE.dat
Rename these files to extend.old and frmCache.old.
You might need to change your view in order to display hidden files and to show file extensions – In Windows Vista and 7 this can be found in Windows Explorer > Organize > Folder and search options > View – from here select the Show hidden files, folders, and drives button and clear the checkbox against Hide extensions for known file types.
In Windows XP, the same options can be accessed from Windows Explorer > Tools > Folder Options > View.
By preventing Outlook from checking these files, you should find that the application is now loading as expected.