I was seeing the same problem, and was able to fix it. After upgrading to Lion, Mac Mail would not load messages and would hang on Restart. I did some of the things mentioned in this thread: open Mail from Applications instead of Dock, remove account from Mail, remove account from Sys Prefs, try to rebuild the mailbox... nothing was helping.
What did work: changing the Ethernet speed. System Preferences, Network, Ethernet, Advanced, Hardware. I switched from Configure Automatically to Manually, 100 Full duplex. Mail workes fine. Mailboxes showed up, messages loaded, and it quit properly.