I'm just trying to be helpful ^.^ It's not a big problem for me personally, because I only play Shai, hehe.
I did some fiddling around with what files were patched and not, and, for me at least it was very specifically the "pcw_02_hand_0001.pac" file that is causing my game to 'hang' when I select my mystic on the character select screen - the same as your image. It's odd, because that particular file is just an empty 1kb file, like the other mystic hand armour files (0002-0005, etc.).
The only difference is that *That* particular appearance is the one my loading screen character is currently displaying/wearing (she's not wearing any equipment)... so it may be related to that in some way? I don't know.
It's not happening with any other characters, and I have got several other characters in the exact same position as my mystic (level 1, no equipment, all displaying the same basic appearance for their class), so the fact that that's happening just with Mystic is really weird. (Also, without the file, her forearms are missing, but with the file they're clearly there and all correct - it just hangs, and can't get past loading.)
Like I said, I'm not seeking help or answers for myself, I'm just trying to offer extra information in case it might be helpful. I've got no idea what might be doing this.
EDIT: More interesting behaviour; It only hangs if I *select* the character and make it load her in the start menu itself - I can click the log-in button *without* selecting her, and it loads into the game perfectly, and everything is right. I can also create a new mystic character, and a trial mystic character without any trouble.... seems like some really odd specific interaction with the character menu character previews directly... which is well and truly beyond my comprehension ^.^