Generic "Connection failed" dialog over and over

Upgrade from 4 to 5 went smoothly. However after launching PD5, I continuously get the generic (server may not exist... no IP) "Connection failed" warning dialog over and over. This is before I even launch the VM which works fine. My Internet connection is fine. I have tried all the suggestions mentioned to date like turning off SmartMount, removing aliases, etc. After I launch the VM and after some minutes go by, it stops displaying the dialog, I would guess because this PD5 connection check times out. Can anyone offer advice on how I can eliminate this dialog?

PD 5.0.9220 rev531002
MacPro 1,1
10.5.8