Update- I found the solution:
1. collector.xxxx.enable=false on every unused/unneeded datasource collection mechanism.
2. eventcollector.xxxx.enable=false on every unused/unneeded eventsource collection mechanism.
In my case, I pretty much am monitoring the collector machine only, and I've only left snmp, script & webpage-related collectors enabled and this seems to have done the trick.
The last few configurations might not be necessary..but everything seems to be working fine with these configs..!