If you're not willing to turn off IE 8 completely, start by going into IE 8's Manage Addons section and disable the 'Research' and 'Discuss' addons and see if that makes a difference.
I'd also recommend you turn off Media Centre completely ... I don't think too many of you would be upset about that one including the MS Tech Engineer I'm in ongoing discussions with who also recommended I turn off UAC completely LOL!
I'm still convinced it has something to do with IE 8, sorry I can't offer a more technical reason as to why.
I know it's too early to claim a fix after making these changes only three days ago, however, after six or seven clean installs over the last week or so on a brand new custom built system, I had the DllHost.exe stop working every time within the first day both before and after reinstalling all of my software applications.
I'm currently running Firefox 3.5.5, ESET's Smart Security 4, MalwareBytes, Windows Defender, and IObit Security, and as of 9:00am this morning my Reliability History still remains at '10' and everything appears to be remarkably stable.
I should also point out that with this latest install, which I believe will be my last, I have followed Black Viper's recommendations with regards to tweaking the administrative services.
Once again, let's hope as a team we have, or can, put this baby to bed!
Neil