Me, too! Since upgrading to SL & then immediately to 10.6.2 a couple days ago.
Well, it won't run - it didn't crash, it just hung on startup. I tried repairing permissions and, after finding this thread, removed the plist file suggested, but no luck. I just realized I should check the log (Console), and found it was putting out this, over and over again:
12/13/09 11:28:47 AM com.apple.launchd[1] (com.apple.ActivityMonitor[4828]) posix_spawn("/Applications/Utilities/Activity Monitor.app/Contents/MacOS/activitymonitord", ...): No such file or directory
And exiting, then retrying every 10 seconds.
I opened the Activity Monitor package to confirm that activitymonitord is there, but upon rereading the message I realized it's telling me Activity Monitor needs to be in the utilities folder - and I had moved it into a subdirectory (to declutter my Utilities folder). It always worked there in previous systems, but apparently SL's Activity Monitor has a hard-coded address built in.
I moved AM back to where Apple wants it and it immediately opened. Don't know if this helps anyone else, but I thought I'd put this out there in case it does . . .
(Yes, I know you "should" leave programs where Apple puts them and keep your files in your user folder, but I just like to do things my way whenever I can get away with it.)
Anne