Has anyone else noticed that, over a few days or sometimes hours, the activitymonitord will consume more and more cpu?

My macbook pro 8gb (currently 10.7.2 Lion) will gradually increase activitymonitord usage, sometimes getting to ridiculous levels. I have seen well over 60%.

I generally leave my Pro running, only sending to sleep every now and then, but I've been finding that I need to reboot relatively frequently because of this issue.

I've just been notified that I needed to force quit processes because I was out of space on by boot disk. I killed (by normal means) a number of other processes - Liferay, NetBeans, Illustrator. I now have 1.11G free, 1.8G wired, 1.26G inactive and 3.83G Active. It's an 8G machine.

My swap is still 55.82G. I have 332G free on this disk. That means, I think, that the processes I killed off were using, between them, something like 270G of swap. Pardon? Maybe it needs a block of contiguous disk space. Even so.

Meanwhile, my activitymonitord is using around 39% of my CPU. It starts on a fresh boot with my typical application load (not including Illustrator or Liferay) at 4 or 5%, and gradually deteriorates. I can only imagine that there is a great swag of VM objects being created, and that keeping track of them is kill activitymonitord. But I'm only guessing, because it's almost impossible to find out what's going on.

Anyone else seen this sort of thing?