Finding the launcher is the best way to tell if something running as rundll32.exe is evil. Usually you can find it in the registry fairly quickly if it is not evil. In the registry editor, go to HKLM\Software\Microsoft\Windows\CurrentVersion\Run. See how many rundll32 command lines are there. Nvidia's tray applet is usually one, but there may be others. If you don't recognize something, look into it.
Be careful deleting items from the Run key. While it usually won't cause total system breakage, it can cause some programs to stop working properly.
Something running as svchost.exe can usually be found under Control Panel\Administrative Tools\Services. If a started item has no description and runs as svchost when you look at its Properties, it is probably evil. (Except for Shell Hardware Notification in XP SP3. Its description got nuked somewhere along the way.) The good thing about items in Services is that you can stop them and see what happens. If nothing breaks, you can set it to Disabled.