This file is required by McAfee to run live, real time AV shiedling - as opposed to running periodic or scheduled manually. TuneUp Utilities 2004 tags mcshield.exe as the only file - on a brand new high-end XP box - which uses unusually high resources.
Aaron Hansen
Uses lots of CPU resources. Nearly 10% of a 3.0 Ghz dual core processor
Independent Observer
it use high memory as opposed to CPU. On a system that has 1GB RAM, it uses somewhere around 150MB.
ogurek
McAfee On-Access Antivirus Scanner from Network Associates, Inc. More information