XP or Vista ?
I have seen that one with the infamous Vista updates that are saying 3 of 3 and reboot all the time, after awhile that was the exact error message. Can't say if this is what it is but it looks like it.
The last 2 laptops that were having the problem, i had to reinstall and they were with Vista.....
I did not wanted to reinstall but i didn't have any choices. Microsoft recommend using the Vista CD but it didn't seems to work.
If you can get an adaptor to connect the laptop drive to an IDE or SATA cable you'll be able to save your important data and then reinstall.
I know that i'm not really helpful but i'm trying