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Issue:
TSVNCache.exe makes explorer so slow since version 1.6.1 (fixed yet?)

work-around / Solution:

1. Right-click on your desktop and select "TortoiseSVN -> Settings"

select icon overlays
under status cache, select startup cache, none.

add exclude paths:
c:\*
d:\*

include path can point to your respository.

http://veawor.com/blog/windows/tsvncacheexe-make-explorer-so-slow-how-to-disable-it.html