Wanted to confirm I had the exact same problem. 
Lenovo T61
Has never ran Windows. Put Ubuntu on the day I got this laptop over 3 years 
ago. 
I can't say for sure that this started occurring with kernel 2.6.32-24 or not, 
but just happened to notice the lagging, and spiking cpu. events/0|1 was 
loading up the cpu.

onboard ethernet stuck with both lights on.
Did find that downing the onboard NIC stopped the spikes. 
Pulling the battery also did the trick. 

Running Ubuntu Lucid 10.04 LTS. Up to date.
Lenovo ThinkPad T61 6459-CTO

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events/0 spikes CPU every 3 seconds since upgrade to 2.6.31-20
https://bugs.launchpad.net/bugs/537396
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