Try going to msconfig and click the "services" tab and check "hide all microsoft services" and then unchecked all the one's that remain and see if that works.........
1. Start===>run====>msconfig
2. click the "startup" tab
3. check hide all microsoft services
4. uncheck all the serivce remaining
I know your antivirus and/or firewall is prob. going to be in th elist just uncheck them for the purpose of doinga check cause it could be one of those causing it.
If that does not work then i would update the drivers or for to device manager and check too see if there is anything in there that is an EXACT DUPLICATE of another device and remove one if it is.
Then i would unplug and printers or anything like that cause that could cause it to freezes like that
Then i would try to do an CLEAN INSTALL of windows xp pro to rule out software and then start thinking it would be hardware. Cause Software fails more than hardware