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Randomly started working fine, disregard ^^ Happy mining!
I had a world I was working on prior to 1.03 that worked perfectly, now when I try to load the world after the patch it gets to "Initializing server" and "Finalizing..." with a full green bar but never actually proceeds from this point, the game is not frozen the background is still scrolling to the left and I can still access the XMB and quit out of the game, but for some reason it won't ever make it into the game?