Windows, SDK 2.7.6
Having some spotty internet connectivity lately (weather, and provider is doing some maintenance)... I've just noticed that if I try my pdc/launch Simulator dev cycle that the Simulator won't come up (hangs) if there's not a network connection (I expect it's trying to 'phone home' to see if there's an SDK update or something).
This is annoying, as if I can't brows the intarwebs etc. I might as well be developing - but the Simulator hangs! 
I don't recall this being an issue before - or maybe I'm just remembering incorrectly.
Regardless, this seems like a bug... I'd expect a timeout of some sort, rather than just hanging (for what seems like?) forever.