I recently upgraded from an old 0.9x version of Magento to 1.16.
After upgrade, I found 3 rows (i have two stores) in catalog_product_entity_decimal for each product entity. The attribute ID for these was 504 which represents minimal price in eav_attribute entity.
Since I was having a issue of “as low as” showing up with all products and not going away, i deleted all rows from the table catalog_product_entity_decimal where attribute_id was 503. This did not take away the “as low as” thing. Thereafter I truncated the catalog_price_rule tables and catalogindex_minimal_price
Thereafter, if I create a new catalog rule and click on apply rule - nothing happens. Browser waits endlessly and in another session I see Rules Applied message. The frontend has no change in pricing.