i was getting this same thing all evening, post reboot. mds was running at 100%, even up to 180% at times. the cpu was at 83 degrees and the fan blasting at 6k revs. the machine was unresponsive..so i dug..
i whittled it down to a few things, removed my ext harddrive, stopped indexing on fonts and applications. nada.
so i tried to remove the one thing that was still on my machine. a dvd-rw.
wouldnt budge. couldnt remove through normal eject, nor through toast titanium. being a macbook has no pinhole i tried removing through disc utility. got the same error as when trying to eject. "the drive is in use". by what exactly? it's a fresh reboot, so the only thing looking at it would have to be an auto started program. ie, spotlight.
whilst still in disc utility, i also noticed the "files" on the dvd-rw was odd. infact, it read as 486billion files. now, there were 4 folders on this dvd-rw, with several work related files on them, and an episode of the office. nowhere near 486billion files there. i had added these files using my work based xp machine. so, i basketted all my eggs. now, to remove the dvd.
i rebooted, with a credit card in the drive, and my finger on the eject button. one of those things worked as the dvd popped out before leopard booted. turned out i was right. the machine booted up, and MDS was now at 0.0% and the cpu on both cores is now idling at 7% as i type this.
check your dvd's is all i can say...