ITunes 10.6.1.7 uses 99% of CPU / Win7

iTunes consumes over 90% of my PC CPU when syncing my iPad 1. The sync does go thru but it takes a huge amout of time and while it's doing it I can't do anything with the PC as 90-99% of the CPU time is consumed by iTunes. When iTunes is "idle" (= not syncing with iPad), it uses about 50% of CPU.
I reinstalled my iPad from factory settings and discarded all the settings in iTunes about the iPad -> no change.
I uninstalled iTunes and all other Apple products (Bonjour, iCloud manager, Safari...) and installed iTunes again -> no change.
I didn't pay attention to when this started - with the new version of iTunes, or when I set up Home Share or when I connected my new AppleTV 2 to the same network.
I already tried the netsh winsock reset -> no help in my case. Also, there are no conflicting Winsock Providers/Layered Service Providers (LSP).
What to do to get iTunes behaving itself?

I've got exactly the same issue here.  Also tried all of the above suggested fixes. No luck either.

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