Not a solution, but for temporary relief from spoolsv.exe over-taxing your CPU, turn it off.
Right-click "My computer", select "Manage".
In the bottom of the subsequent window open "Services and Applications", then open "Services".
The service "Print Spooler" is the process "spoolsv.exe". You can confirm by double-clicking it and checking the field "Path to executable" which should look something like "C:\W2K\system32\spoolsv.exe".
You can disable it, set it to manual, or simply stop it for the time being.
No real solution, but until you resolve the deeper issue, you can at least regain control and avoid constant rebooting.
Interestingly, I don't even have a printer. I noticed the process running and found this forum as I was looking for info (afraid it was the latest worm, using spools.exe). I had the process set to "Manual" and mysteriously found it "started".
Anyone got any ideas?