Could you give some precisions: when the tail hangs, are you sure it's a tail problem, or is the connections simply hanging ? Try to assess this by pressing ctrl-c and see if you get back to the prompt.
Otherwise, it could be a classical problem of log rotation: i.e. when you tail a file, and it's being rotated by some utility (like logrotate), then it changes name, and tail of course loses the trail, if you excuse the bad pun.
You could try and diagnose the problem by creating a debug log file of your doing by using a bash while() loop or a command like "iostat -k 10 > yourfile", and "tail -f yourfile" to see whether this is a general bug of tail.
Now, of course, one has to ask why you are using such an old distribution ?