Another lesson learned today - this service does not exist on servers/machines before Win 2k3 SP1 and/or XP SP2. If you happen to do an overlay install on a Win2k3 SP1 machine with Win2k3 RTM (don't ask), you will be left with this stale service. If you don't set it to manual/disabled, it will happily eat up CPU time trying to launch.
Now I get to fix up other people's code so it works on SP1 - I'm in quite a catch-22 situation but I won't get into it. Trust me that I wish there was a better way about this. I normally never do stuff like that (Best Practices - yadda yadda yadda)