Hi Deepak,
For your first issue, loading up http://localhost:8080/ is a Tomcat related issue. As soon as you install Tomcat, without deploying any kind of web applcations to it, you should see that page. If you don't, then you know something is wrong with the way Tomcat installed.
As far as your second issue, trying stopping Tomcat, clearing out the cache files ($CATALINA_HOME\work\Catalina\localhost), starting Tomcat back up. Something may just have gone wrong with the way Tomcat created the cache file. By deleting the old one and allowing Tomcat to create a new one, it should speed things up a bit.
If you're still noticing this slowish, redeploy the CMC application, after stopping the Tomcat service, to Tomcat using the following command in the command prompt:
wdeploy tomcat55 -DAPP=CMC deploy
I'd further suggest clearing out cache files, before starting Tomcat back up after a deployment, to ensure that no old files are left lingering around. This way, you know you have a clean deployment of CMC and it isn't that.
Hopefully the above resolves your issue.
-Victor