What I expect to happen is that when you leave save and quit the game, I should be immediately able to enter the world again, right where I left off.
What actually happened is that the game was stuck on the "Loading World" screen, and I had to restart Minecraft for the world to even open. When I did, there was a rollback to when the world stopped responding.
STEPS TO REPRODUCE:
1. Play in your world Imine was made in Beta 1.7) for some time, the bug
activates randomly.
2. Check if you are able to pick up items, use redstone, or type commands.
3. If 2 is true, then save and quit.
4. Try to enter the world again.
5. the game should be stuck on the loading screen, and you should have a
world rollback to the time where the world stopped responding.
EDIT I just tried this with a new map I just made, it happens there too.
Related issues
Comments

It happens on my world too sometimes.
It happened a lot on 1.3.2 when editing signs and/or books. Happens a lot less on 1.4.2, only when I edit signs or alt-tab the game (I didn't edit any books on 1.4.2 yet). All sounds stops, entities stop moving, blocks don't give drops and chunks no longer loads. The only way to play the world again is restart Minecraft. Sometimes Java keeps running on the background and I have to manually shut down the process.
When I reopen the map, the world rollback as described by OP.
I have a weak PC and Windows 7 64 bit also.
Is this still a concern in the current Minecraft version? If so, please update the affected versions in order to best aid Mojang ensuring bugs are still valid in the latest releases/pre-releases.
Uhh beta 1.7 was a beta, and may have produced undesirable problems on the map.