|Try booting into Safe Mode (F8) and running defrag. |
You may have a harddrive that is failing. I suggest you backup all your person data and then download and run a drive fitness test from the manufacturer of you brand of drive. The brand MAY show in the startup screens or alse you can download a utility to identify the brand.
Are you using the regular or classic start menu? Classic start menu places a My Computer icon on the desktop, regular has My Computer on the start menu. If your icon was created when using the regular start menu then just delete the icon and recreate a new one.
Is that all that is wrong as far as you can see? The link below can help with many Windows problems. Looking under the "M"s for My Computer.
To change from the regular XP start menu to the Classic Start menu right click the start button and cloose properties.