It seems that there were several chains out there, and it took a long time for the network to converge to the "good" chain. Please make sure you use version 1.2 and be patient. The problem, is probably many people did not upgrade to 1.2 in time, causing several chains created, now the network will take some time to select the right chain and sync up...
Everybody is on 1.2 at this point. I was on 1.2 within a couple hours of it being posted. There isn't a single person looking at this thread that isn't using 1.2.
Every time I open up the wallet I'm on a different chain. I've been "waiting" for 24 hours now -- some people are pretty heavily invested in PHS here. There's really no other solution?