first things first:
go to start ==> run ==> cmd ==> type in sfc /scannow
you might need the windows xp cd,
this is the system file checker for windows xp, i think you have some system file missing, might solve the problem,
bios updates are risky, in most cases mother boards becomes a waste, means a new mother board, most likely new prosesors and ram, any ways don't think so bad yet, uninstall all the drivers and reinstall them,
if the problem still stays, just not down the exact time of the freeze, that is from the time it boots to time of freeze, if the time is exact, second to second, every time, means you have a prosessor fault,
if not then you have ram fault, you can check the ram fault easily as you have lots of rams, just put one by one and see which is the result of the hangs, i think that the 256mb might be the coulprit, as i think you might have one of those at different frequency, i.e. mhz, anyways, after all this, you will defenitely get the solution,
still if you don't get it, mail at
uttoransen@yahoo.com and i will tell you some more,