Ok, I think Panther really screwed up my Pismo.
I was using it without problem yesterday and closed the lid to put it to sleep before I left to go see Revolutions
I woke up this morning and opened the lid to be greeted with the slowest waking up process ever. The beachball was just spinning and every action I took (clicking the apple menu to restart for example) would take a good minute or two to register.
So I restarted and was greeted with the same constant beachball and delayed reactions. I then shut down, reset pram and hard booted. Then guess what? It booted into OS 9! WTF?!
So I selected my OS X partition in Startup Disc and restarted. It booted into X as normal, but I noticed that it would hang on "Loading Login Window..." in the boot screen for a much longer time than normal.
When it finally got to the desktop, the same problem was there: beachball, slow delayed reactions to user input.
What the hell is going on? I never had this problem with OS X PB, 10.1 or Jaguar.
FWIW, I did an "archive and install" and just installed the 2003-11-04 Security Update before this problem started happening.