The "serious error" may be related to a corrupted Windows paging file "Pagefile.sys".
1. Right-click My Computer Icon.
2. Select Properties, Advanced, Performance.
3. Click Settings, Advanced, Change.
4. Set Page File to 0 and click Ok and reboot.
Then follow the same procedure and reset the Page File to System Mananged File.
Make sure you have free space on your Presario. I suggest you use Safe mode, logon, and set virtual memory to "No paging file". Apply changes. Logout and restart into Safe mode. Look
at your XP root folder (usually C:\ ). Delete Pagefile.sys . Go into virtual memory settings now. Make your desired settings choice. Apply the changes. Logout and reboot the system.
2.In SAFE mode of XP, Login as administrator. Go into Control Panel, system properties, in the "Advanced" TAB and in the recovery section....click the "settings" button.
"Un-check" the "automatically restart" line. Do the apply change, make clean exit.
3. Run disk cleanup on the hard drives. Click Programs, Accessories, System, tools, Disk Cleanup.
Also, cleanup and remove files from your "Temp" folder.
Microsoft has released a patch that addresses the "System has recovered from a serious error" issue in Windows XP, and is discussed in Microsoft Knowledge Base (KB) Article Q317277. Download now to prevent this message from occurring each time the machine boots.