There is a bug report about this in https://bugs.launchpad.net/ubuntu/+source/nautilus/+bug/862662 , although lately I become unsure whether it really is Nautilus bug or not. Before installing Precise, I tested it by installing PCManFM to see whether opening files from it shows busy cursor while waiting, but the busy cursor still doesn't show up.
The busy cursor works in both Oneiric and Precise Live USB, and in the earlier time I use Oneiric, it also worked. Then, I installed Precise, leaving my home folder unformatted, but the problem persists. I also tried to remove the configuration folders and files in my home folder (actually move it to a folder so that it can be restored), log out and log back in, but the problem is still there (In Oneiric, I created a new user to see if it is a configuration problem, though, to no avail either).
Thus, considering that the busy cursor works in the Live Session, are there any way to get the busy cursor to works normally in the installed system (such as editing some system configuration)?
Is this a common problem or only occurs on specific hardware?