|The BIOS appears to be configuring 2 SATA drives. Most likely a hard drive and an optical drive. |
No boot device simply means the hard drive doesn't seem to be bootable. Still could be the hard drive going bad but could be something else.
I suggest you download and run a hard drive fitness test from the manufacturer of the drive. If the drive passes then try performing a WinXP repair installation. If the test shows defects try changing the data cable and repeating the test.
If the messages you are seeing are something from Dell utilities then the issue might just be the energy settings. I recommend you never set the hard drive to hibernate.
Also, if you have a SATA II hard drive connected to a SATA I port you may need to add a throttling jumper to the hard drive. This is unlikely if the hard drive is the original.