I'm (sorta) glad others have found the same problem.
My Teatimer also starts out @ 6MB and after a day or two hits +530MB. My PC and laptop are always on (and Outlook, AV, firewall, SB, few IE windows, and a few other apps are always running) but the problem only started recently, about time I downloaded and started using MS's Windows Desktop Search. I've also since noticed everything running slower too, even when Indexing is complete. Thanks for the hint about "multiple process monitor applications". I'll shutdown WDS for awhile and see what happens.