Thanks JimmyCMPIT, but I was hoping that someone may have gotten the answer elsewhere and would have been able to answer.
Found something at a place called PressReader:
"...When preparing to back up, Time Machine doesn't check every file and folder to see if they've changed since the last Back Up. Instead it relies on a record of file system events named FSEvents, which saves a lot of time and effort. Sometimes, FSEvents can become wobbly or missing, in which case Time Machine will perform a 'deep event scan' of its own, which can take an hour or more. You can invoke it manually by opting for the 'consistency scan'."
That helped a lot-as well as answering the question as to why 'Preparing Back Up' may sometimes take far longer than usual.
Matt