I've experienced 'hangs' when executing PSEXEC against a remote system, but I always attributed it to the security context in which the remote process was running under.
From PSEXEC help:
If you omit a username the remote
process runs in the same account from
which you execute PsExec, but because
the remote process is impersonating it
will not have access to network
resources on the remote system. When
you specify a username the remote
process executes in the account
specified, and will have access to any
network resources the account has
access to. Note that the password is
transmitted in clear text to the
remote system.
If your executing a process remotely, that then needs to access the database (stsadm.exe), then it could be failing trying to access the network resource, depending on how PSEXEC was executed. If thats the case, I'd imagine it would eventually time out and give some sort of resource unavailable message.
There are two things that generally done when executing deployment steps against a remote machine to prevent the behavior your describing:
Like rifferte mentioned, make sure all assets needed to
deploy are local to the remote
machine (copy files, etc) before
using PSEXEC to execute the script (*.bat, *.vbs, *.ps, etc) -
so that everything runs 'local' to
the remote machine.
Run PSEXEC using
a domain username/password when
executing it - note that this
information is passed in clear text
to the remote server.