Yes, that's correct. My one POP3 folder from one account takes very little time to sync, but the cursor will spin forever.
Sometimes, like you, I don't see it. I'm trying to figure out a fully reproducible case, but can't yet.
One thing I have noticed is that whenever the cursor is small, it won't stick on, when it is large it does. Still can't figure out why it's big sometimes and small other times, or what causes it. The small cursor is always immediately to the left of the word "Loading" but the big cursor is just centered horizontally in the screen.
Will continue to investigate.
