I've been having an extremely similar problem, with a slightly different hardware config.
I replaced my main drive with a new freshly formatted drive with a clean install of Windows XP, and I have been continuing to experience the same problem, which would rule out any kind of software environment issue such as a virus or spyware.
Usually I will have a "click and crash" experience during gameplay, file searches, or while running diganostic tools such as ATItools.
Also, as furhter information, the problem began occuring a little over 1 month ago, and I had not made any significant changes to my software environment and have not changed my hardware configuration in more than 4 months.
First, since I found the problem occuring mostly during gaming, I replaced my video card. This did not help, so my next suspicion was that it was pending hard drive failure.
I backed up the suspected hard drive, and then replaced it with a freshly reformatted different drive with a clean Windows XP install on it.
I am still experiencing the same "click and crash", primarily when gaming, but still under the above mentioned circumstances.
Replacing the video card and hard drive rule out either of those as a possibility, and having a fresh install of Windows XP (fully updated, with fully updated drivers and the lot) rules out software environment problems.
I'm leaning towards either the PSU, IDE controller on the motherboard, or possibly RAM as the few remaining variables where the problem may be coming from.
To attempt to rule out PSU overload problems, I disconnected everything except for the main OS drive, video card, sound card, and CPU heatsink fan, and this did not seem to prevent the click and crash.
I've checked the thermals on my CPU, internal case temp, and vid card, and all seem acceptable.
Any thoughts or suggestions on areas I could tweak to resolve this, or other possibilities as to what may be causing the problem?
System specs are:
Processor: AMD Athlon XP 2800+
Motherboard: Asus A7N8XE-Deluxe
RAM: 2x Crucial 512MB DDR RAM
Power Supply: Antec TruePower 430W
Hard Drive 1 (OS): IBM Deskstar 120 GB (IDE)
Hard Drive 2 (Data Storage): IBM Deskstar 80 GB (IDE)
Hard Drive 3 (Backup): WD RE2 WD4000YR 400 GB (SATA on SiI 3112 Raid Controller)
Floppy Drive: Generic 3.5" Floppy
Video Card: Sapphire Radeon x800 GTO
Sound Card: Sound Blaster Audigy Gamer
DVD Re-writable Drive: Lite-On SOHW-1633S
Case fans: 3 external case fans, 2 PSU fans, 1 CPU Heatsink fan
Thanks!
Spaceviking