Revert to MediaMonkey v4.0.2.1462. I put in a dozen hours and found this to be the only solution. You can download it from the site.

Here's the fix: Deinstall 4.0.3 and reinstall 4.0.2. Download 4.0.2 from the Support Center: http://www.mediamonkey.com/support/index.php?_m=downloads&_a=view Back up your database, ini files, etc.: http://www.mediamonkey.com/support/index.php?_m=knowledgebase&_a=viewarticle&kbarticleid=...