Description of problem:

After the upgrade to kde 4.2.2, kded4 is taking 100% cpu (always):

top - 15:27:15 up  5:49, 10 users,  load average: 2.93, 4.05, 3.15
Tasks: 161 total,   5 running, 155 sleeping,   0 stopped,   1 zombie
Cpu(s): 38.7%us, 33.1%sy, 19.1%ni,  0.2%id,  8.6%wa,  0.2%hi,  0.2%si,  0.0%st
Mem:   3954768k total,  3263440k used,   691328k free,   235628k buffers
Swap:  4192440k total,        0k used,  4192440k free,  1869292k cached

  PID USER      PR  NI  VIRT  RES  SHR S %CPU %MEM    TIME+  COMMAND
 3317 amit      20   0  677m  42m  24m R 97.6  1.1 142:48.47 kded4
 2947 root      20   0  486m 134m 9420 S  6.9  3.5   2:41.53 X
21148 root      39  19 89208 2752 1040 R  3.6  0.1   0:07.34 makewhatis
 3728 amit      20   0  303m 6600 5332 S  2.0  0.2   2:05.98 pulseaudio
 4085 amit      20   0 1010m 403m  29m S  2.0 10.4  10:27.48 firefox
 3395 amit      20   0  375m  27m  15m S  1.3  0.7   0:04.24 konsole
 1876 root      15  -5     0    0    0 S  0.3  0.0   0:02.11 kondemand/0


Powertop shows pulseaudio at the top. I have the gstreamer backend enabled in the multimedia settings.