Win XP SP3 - multiple errors system bootup

Not sure how to start...but, my system has been displaying numerous
problems of late.

First off - my personal instance of Office 2007 won't download or send
emails. Error message states that - out of memory error. Close down
applications for free up memory (something to that affect). My wife's
account works perfectly fine. I understand that it is most likely a
personal profile issue.

But before I could resolve the problem, my system rebooted itself and
now states that my system file in Windows\system32\ is corrupt or
missing. I ran a number of chkdsk instances and seem to have cleaned
up many problems with various indexes.

The system then booted up but I now have problems with accessing the
task manager. An error message informs me that a specific file does
not exist and therefore can't open the application. I attempted to
reinstall the task manager, but no luck. At some point the system
rebooted itself and I ended up back to the corrupt system file error.

In the past I have had issues with my video card drivers, so I updated
them. I've also experienced issues with Adobe Acrobat Pro 9 and
removed it. Neither solution has made any difference. If I continue
to attempt to reboot the system, it has in the past started up. But
this can take days.

I'm sure this screams out...reinstall the OS and be done with it. But
the original OS disc is out of date since I've updated my system to
SP3. I've attempted to slipstream XP with SP3 but have had no luck to
date and do not know frankly if it will work. I don't want to wipe
the drive clean and start from scratch as it will take me days/weeks
to reconfigure the system.

This is a last gasp attempt to resolve this problem. So if there is
any suggestions out there I will send major karma points your way.

Thanks in advance,
jag