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After last update of mist I have swarm.exe process running and consuming lots of my CPU, IO and network bandwidth. What is it doing and is there a standard way to disable it, or reduce PC slowdown? Can I run geth.exe alone with last mist?

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Swarm.exe is the daemon used to sync over the swarm p2p web, making you able to browse on the bzz protocol.

It uses alot of resources at the beginning, it slows down later when you are synced. More on swarm here https://github.com/ethersphere/swarm

Should you decide not to activate the swarm daemon (default config for now syncs up to 20 GB on your hard drive) you can start mist pointing to the public gateway.

Mist --swarmurl="http://swarm-gateways.net"

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