Spinning wheel and loss of battery life

[sdlucky7]

I need some assistance on an issue that has popped up recently.


Every couple mins or so, I am getting a repetitive spinning wheel (like the phone is processing something) that flashes on and off for 1 min or so. It slows the phone down to a crawl (answering phone calls has been a challenge, so has SMS and E-mail). I can't figure out what is causing it.

The only programs that are running are: SBP Mobile Shell, ActiveSync (it has always started when the phone starts up) and SMS\MMS.

I've had this phone working wonderfully for almost 2 years and this issue just showed up 2 days ago.

Any ideas?

Soft-resetting doesn't seem to have any long-lasting effect.