I want to share this issue and it’s solution.
I had this problem where the Outlook started to work very slow and occupying about 50% of the CPU performance (Dual core PC).
The issue started when I added a second PST file. When I removed it, Outlook returned to normal.
I checked the PST, and had it repaired 4 times, until it was free from errors.
But when I returned it still the problem persisted.
After reading some threads on this site, I saw someone mentioned that the Calendar entries might create a problem.
So I removed all calendar entries, reminders, Flags, etc.
and the problem was resolved.
Outlook now performs normaly with the two PST files.
Hope this will help to others..