I am running the latest (0.3.21-beta) Mac client on my first-gen Intel iMac (2GHz Core Duo).

I have downloaded all blocks. I do NOT have generation turned on. I currently have 11 connections (although this doesn't matter for the problem I'm about to describe).

And, my Bitcoin client is constantly taking 100% of my CPU (or rather, one of the two cores). What on earth could it be doing? It's been like this for hours.

Does the Mac Bitcoin client have some bugs?