Same problem
I too am experiencing the same issue, I have a newer MacBook running 10.6.2, 4Gb of Ram and everything seems to be bogged down over this launchd..... i have killed all my apps, restarted and it always comes back sooner or later. any ideas on how to find the culprit? I've pulled the battery and that seems to help and my battery life is improved for a while but then something starts it back into consuming 40-60%.... i'm so annoyed, please help.