I think that may not be a bad idea. One thing you might want to consider is a fresh install of Windows. As much of a pain as it can be, this might be the only way to ensure that this goes away 100%.
One thing I forgot to mention when I first posted this potential solution, was that after experimenting with installing\uninstalling versions of IE and observing if the leak returned, eventually I performed a fresh install of Windows and left it running IE9.
It has been well over a month, and my system is still running fine. The SVCHOST process is running at 13,540K and stays in and around that number. For what it is worth, this system is used to monitor my entire network (1,000's of nodes), so you can only imagine the amount of network traffic that it generates.
I you haven't already, I would probably give up on trying to run a current IE version, and just start using Chrome or FF- both of which IMO are much better.
