My xcode version is currently 4.6.1. If after a fresh install, you notice the beach ball keeps coming back while xcode is open, it may be because xcode is trying to do indexing. You can turn that off by issuing the following in a terminal.

defaults write com.apple.dt.XCode IDEIndexDisable 1

You just need to do it once. The freezing should then stop happening.

Ref: http://stackoverflow.com/questions/5392139/how-to-disable-indexing-in-xcode-4