Comment 5 for bug 35449

I've got the exact same issue, it seems.

Started out bad; had the e7xxx module throwing errors into syslog about every second, so I fixed that. Went through the sysv-rc-conf and killed all the services I didn't need. Blacklisted the modules I didn't need. The problem got much better, but there was still that blink.

swapoff - no difference
stop hal - disk stopped accessing every second.