while it is still not running ok for, i tried some things out. firstly, reduce the number of hosts. i was ... let's say almost acceptable ... with 4 (!) hosts. perform only searches which will return a small number of results. so don't look for "mp3", but look for "artist part_of_title".
what happened then is - astounding as it is - it started running better. maybe it fills some host-cache-file or .. well, i just don't know. but it seems to run quite ok now, although i still get it to hang when having a lot of parallel stuff running. but it was stable for about 10 hours or so ...
maybe this helps you. and please report on your further experiences. maybe we can figure out what helps to get it running. i like it way more than bearshare - if it just would be more stable