I am sorry to hear you are experiencing this behavior.
In order to investigate this further we will need some more information from you. When did that start happening is that something you are experiencing recently? If yes please try to figure out of any recent changes made to your system. Also please provide us with screenshots or short video (you can use Jing for example) of the Windows Task manger and more especially the processes and the performance tabs while you are launching Test Studio. This poor performance might be also due to a huge project (especially the TFS issue), could you please create a sample test project containing a simple web test for example and try to connect to the TFS?
One other thing you can try is to install Test Studio on a different machine and see how behaves on the new machine, it might be something related with specific environment.
Another option you have is to upgrade your Test Studio up to the latest available version.
Please provide us with more detailed information so we can investigate this problem more closely.