when I boot up the bottom of the screen says: Press F1 to setup, F2 to resume. When I hit F1, it takes me into the setup screen (bios, I think?). It allows me to navigate for about 3 second then locks.

If I hit F2 instead, it goes to a black screen with a cursor at top left corner.

Help!!! Please!

Sounds like your chip might be failing, I had the similar problem with a P4 3.0-E 1M.

Can you boot into Windows by chance? If you can, download HotCPU Pro LE @ http://www.7byte.com/hotcpu.exe

Hope This Helps!!

Try unplugging your hard drive and see if navigation without freezing is capable in BIOS. I've also seen hard drives cause this on notebooks and believe it could happen on a desktop as well. (Cursor blinking may mean its having problems trying to load the OS and is hanging)