I\'m using TortoiseSVN on my development machine (running Windows Server 2003) and VisualSVN Server on the server side. Both are the latest versions (against Subversion 1.6.5).<
You could disable TSVNCache.exe altogether. I decided I was willing to live without updated icons if it meant I could open and close Visual Studio orders of magnitude faster.
You could also lower the priority of TSVNCache, which is what my boss did with success. The main problem we were having was startup and shutdown times of Visual Studio, so he wrote a batch file that lowered the priority of the process and then started VS.