The new WSUS 3.0 server is due for release next week, which is good news for administrators everywhere. The better news is that, a few weeks later, the WSUS 3 client will also be released which will help further with the CPU spiking and high memory use.
I have called into MS for this updated WSUS 3.0 client, and it has fixed 100% of my SVCHOST issues when installed with KB927891, so I suggest that you get these two things installed on any machine you have ASAP!
Import Update option now working in WSUS 3.0, but can’t find a way to push out KB927891 to our network