DO NOT FORMAT, READ FIRST..PROBABLY BIOS
To start with you can tell XP to sort itself, you go through the procedure to go for a fresh install booting form your XP cd, but you ask it to repair it, this is not the same as a repair via repair console, it will offer you this on a blue screen along with set-up fresh install, you can also instigate it to run if it is not showing by agreeing to fresh install, but on the next window after you have chose it take the repair option.
Have you used your MMC (right click my computer and go to manage and look at the system tools , namely the tab "event viewer", under this you will see in the drop down > application,Internet Explorer, Security, System. The tabs you are interested in are the Application and the system tab.
When you click these tabs you it will show you red crosses beside any problems, these can be clicked on to show you process or applications that cause problems and they give you error codes and a small description you can google the error codes to get more specific answers.
Your IRQ problem should be managed automatically by your operating system, you must have reconfigured them manually in Windows, IF YOU HAVEN'T then do not format your system, the problem is in your IRQ management found within your bios (this is most likely)
Make sure and have all your drivers for devices, if you don't note the device names and relevant models via you control panel>system>device manager, you will see them listed.
If you have added ram to your system recently or the problems started after you added ram it could be the latency between modules is mis-matching, try running on original module.
Over clocking can cause this or running the board at the wrong settings, try default bios also.
Make sure and get all your data, you value, thirdly if you don't have a legit copy of XP you will not get your updates from them.
If you get stuck email me caine7sfg@yahoo.co.uk