It is incredible that Microsoft hasn't been able to fix this. Today, after 3 days of formatting, partitioning, uninstalling, installing, updating, upgrading, downgrading, it became evident that the cause of this (at least for my case) was the Windows Update utility.
Everything worked perfectly when I installed W7 / W8 / W 8.1 Preview from scratch but as soon as the Windows Update utility updated itself, it all went to **** and my drive was working like crazy.
I did stop the Windows Update service (wuauserv) and permanently stopped it (Inhabilitate) and everything is alright now and the disk usage is as it was before this glitch!