Ive had this problem with sb live and UT.
On a MSI 815 and a OCed 700e.
I dont think its board specific.
My friend who is running and old katmai p3 600 had the same problem too.
This is how i fixed it.
Its pretty much an IRQ problem, as well as drivers if you have a Geforce vid card.
Bottom line is, ACPI is crap in 2k. Dont use if if you have any need for power in your system.

Ive switched to "Standard PC" and have not had that repeat loop lockup since, and gained 15 FPS.
You go into device manager, click on the plus next to computer and get the props on ACPI, update the drivers, choose standard computer types, and you should see "Standard PC" on the right. Install that.
ITs going to reboot, and reinstall everything, EVERYTHING you have on your computer, from chip set to HDD controllers.
This is for win2k only.
And after that I have noticed that the system is MUCH MUCH more stable.
Only thing is that the computer will not automatically shut down anymore. ATX will turn off all your HDD and such, but you have to hold in the power button to cut power. Just a minor annoyance.
Now, all devices should be on their own irq, if you have the resources to accomidate, if not, it will share irqs.
But imho this is the best way to combat that.
Just my .02