Hell hath frozen over my hard drive! Every time I leave the Nether, it gets stuck on the "Generating Terrain" loading screen. I can close the application and reload my world, and I'll be around 10 blocks away from my spawn point with all the items I had gathered upon re-entering the portal. 

Edit: It's actually around 15 or so blocks away from the portal. I'm currently in a cave with no pickaxe. I'm scared.