I used Ableton live v4 to 5.03 for more than 2 years without any problem.
But since mid august 2006, using always the same version, same computer, same external drive, I got the CPU spikes problem :
Using the XP Task manager I discovered that the CPU jump to 0% before reaching something like 400%, creating audio glitch.
Result : I simply cant use Ableton anymore and I have more live-pa soon ...
My guess as far as my configuration is still the same as it was months ago, the problem could be a software one, maybe resident programs or services ?
Anyone already investigate this way