Hey all..
Lets PUT it simple: I have the same Issue, more or less.

I GET a display and all that, hard drives mount up and run smoothly. As shyfter stated the normal issue would be the PSU, and it WAS the problem at start until I replaced it. So both GFX-card and PSU are out the window for possible problems. With the new PSU it seemed that it was a RAM issue so I ran memtest 86 on all 4 modules and wham 1 of them was broken so i removed it. Everytime I've done something or fixed an issue, ANOTHER one has come up... and now Im stuck again. Trying to reinstall Windows XP SP2 from a CD (worked like a charm when I got it), but now it freezes up at sequence when it is registering COMPONENTS (second part of the installation, not the part in DOS).

A few things I think might have something to do with this:
- My USB ports have been acting up for a longer period of time, especially the port (doesnt matter which one I pick) that I connect my mouse to.
- Harddrive corruption? (altho Ive tried installing on 3 different DISKS so far with the same result/freeze)

- The IDs for some vital system parts, such as memory controller and HID devices, does not have an ID when I boot though.. Could be something in that but Im not that much of a hardware junkie so I can detect the issue just by looking at the screen or the cards.
So Im assuming it might be some form of motherboard issue, but more than that I can't even start guessing on.

Im running a -05 system:
3500+ AMD XP 64-bit
2GB DDR400 (only 1,5GB atm)
GeFroce GT9800 (PCIe)
2x 320GB Seagate Baracudas (SATA2 - no RAID setup atm)
1x 81GB WD Raptor
1x 500GB Maxtor (Not connected)
Motherboard is an ASUS K8N Neo

EDIT: All RAM modules and all 3 HDD's comeback as 100% working with no faults or defect sectors.