Also experiencing 100% CPU usage and app hanging

Im on Lion and am experiencing the same issues many others appear to be. Growl is pegging the CPU to 100% and then hanging, causing many other apps to become non-responsive and basically bringing my system to its knees. Very disappointing—Ive been a growl user for many, many years and this is one of the buggiest releases Ive run into yet.

Jeff Smith about Growl, v1.3.2