I am using Delphi 7 but I have trialed the Delphi 2005 - 2010 versions.
In all these new versions my CPU utilization is 50% (one core is 100%, the other is \"relaxed\")
SOLUTION
The 100% CPU utilization problem is caused by a Delphi button (in Delphi's toolbar)!
I like to switch between the new full screen and old Delphi-7-like IDE. There is a button called "dock edit window" that does this. Every time I installed a new version of Delphi, I configured the look of the IDE and put that button handy in the toolbar. After I remove the button, everything works fine.
Conclusion, don't drop this button on your IDE toolbar.
Update 2010
I discovered a similar issue when I open a DPR file in IDE.
No solution for this, though.
Update 2011
Yet another similar Delphi bug (solution provided by @Warren P)
Delphi XE takes one full core (100% CPU utilization)
Update 2015
I have found the button that was causing the above mentioned issue (100% CPU utilization while editing the DPR file) - It was the 'Use unit' button.