After i am done building a wonder the wonder cinematic starts for the wonder and the movie skips every 5 secs, sound skips and soo does the movie.
Anyone else seeing this as well?

Yes. It is especially pronounced during the opening movie for me. I've defraged the drive, it didn't seem to help.

I've got this problem as well, although I don't have any problems with the opening movie or the religion-founding movies.

I've got:

AMD Althon XP 3000+
1 GB RAM
Abit NF7-S NForce2 mobo w/ AC97 sound
Nvidia 5700LE 256 MB videocard
Windows XP Home SP2

If any of you have similar issues, please post your system specifications so we can figure out what we have in common.

eMachines M6805 laptop (http://www.emachines.com/products/products.html?prod=eMachines_M6805)
ATI® Mobility RADEON™ 9600 with 64 MB Video RAM @ 1280x800
DNA-ATi 4.4.5.10 drivers (http://downloads.guru3d.com/download.php?det=1222)
Mobile AMD Athlon™ 64 3000+ (1.8Ghz) Processor
2GB RAM (upgraded)
60GB 7200RPM Hitachi Travelstar (upgraded)
Sound Blaster Audigy 2 NX USB
Windows XP Professional SP2

I had a similar problem with my wonder movies which culminated in the game crashing back to desktop at the Oracle wonder. I appear to have solved the problem by updating my vid card drivers (nVidia GeForce-based card). There has been a further discussion HERE (http://forums.civfanatics.com/showthread.php?t=133312) as well.

I had a problem with the Wonder building, with the sound skipping and the event text on the side saying sound did not load up right. Video worked just right through.