I discovered yesterday that once my plist360.arc hit 188kb in size the game wont load any more. To fix this I opened the arc file in Hex and deleted all the padding at the end (all the 00s after FF FF FF FF) that reduced my arc file down to 186kb and the game now loads.
In the future I may have to go through and delete the pach file entries for Cena and all the other Jobbers I dont use to free up more space.