I realize that it's bad form to dig up old threads, but I found this with a Google search and thought it seemed appropriate to add my two cents.
I come from the days of the Amiga 500 and 2000, when computers were painfully slow but we didn't know any better because there was nothing faster to experience. Even on that old, slow hardware, when a hard drive was read from at the same time it was written to, it would thrash so badly that you'd think it was going to tear itself apart. As a result, developers knew to keep such excessive accesses to a minimum.
Now, with faster and faster hardware, programmers think nothing of grinding hardware to such extremes, and Microsoft with their Security Essentials is no exception.
As an example, I've just finished downloading and installing the current version of Blender. It's a ~32MB .zip file which also contains a little over a thousand tiny python scripts. MSE initially did a virus check on the .zip file immediately after downloading it. The virus scan was a little slower than my previous antivirus software and it completely blocked any multitasking while the scan was in progress, but that's not as bad as it could've been, considering it's Microsoft's engineering in progress.
It's when I went to extract the .zip file that the thrashing, and Microsoft's ineptness, was audibly apparent. MSE was attempting to scan each of those thousand or so files, in addition to the core files, WHILE THE EXTRACTION WAS IN PROGRESS. After about five minutes of watching and listening to my drive struggle to keep up with MSE's demands, I mercifully hit cancel while the extraction was at just over 50% complete. Then I turned off MSE's real-time protection and restarted the extraction from scratch. Miracle of miracles! The whole thing took about 40 seconds without the train wreck that is MSE grinding away during the process.
As I'd stated earlier, reading from a drive while it is being written to, even with today's hardware, is such an enormous strain that it's probably one of the great wonders of technology that hard drives last as long as they do under Microsoft's OSs.
I'm careful enough with downloads and such to manually scan any files that may potentially contain malicious software, so my choice is to leave MSE installed and running, but with real-time protection disabled. I'll simply enjoy the "pretty" red icon and the red X on the notification flag with pride knowing that my hardware is much, much happier.