Telnet takes a 45 seconds to produce a prompt.
This is in nearly all cases a DNS configuration problem, the AIX machine
can not resolve the IP address of the node initiating the telnet
connection. You can check the DNS reverse mapping by using the nslookup
command on the IP number in question, this will probably timeout as
well. Make sure that the nameserver lines in the /etc/resolv.conf file
point to valid name servers. Some folks have reported that putting the
following in /etc/netsvc.conf can help as well (see also Subject:
Getting a correct DNS Server configuration is the real answer.