Kevin, the stars and planets must be aligned correctly for me today, because I just ran into the exact same problem, and was going to check this forum to see if anyone else had the same type of problem.
I have method code in my base form's load method (for positioning, sizing, blah blah)...yeah, i agree, I wish the designer in VS.NET wouldn't try to execute it either! <g> So your idea to check if the form is actually running is a good idea.
Kevin