I have the same problem with a brand new Macbook Air with very little on it. But one interesting thing is that the problem seems to have started after installing Caffeine.
I later found out later that Caffeine doesn't work in ML according to the following:
http://roaringapps.com/apps:table/tags/_c/index_tags/_c.
I installed Caffeine because I lost a remote connection when I left the MB for a while and had previously installed it on an old MB with Snow Leopard where it worked with no problem.
So could it be that installing Caffeine has messed up some internal settings on the MBA and despite removing it I still have the problem? If so removing Caffeine and resintalling ML (sledge hammer to crack a nut, I know!) might fix the problem. But if you have re-installed ML and kept Caffeine then perhaps that is causing the problem to persist. I will try the ML re-install and report back.