All voltages need to be checked including the 12 Volt line. In both my cases the system lockups were caused by the 12V line droping low (11.2 volts) for only around half a second, causing the hardisks to shutdown. This caused an unrecoverable error from the kernel.
The symptoms in my case was an almost complete hardlock up but with the mouse pointer still working.
If you have a clock showing seconds, is it still ticking? Even, if power is OK, hard disk may lock up for other reasons as mentionned above. Have you tried running the system from LiveCD with no HD connected at all? If loading video content causes the crash, this may suggest it occurs on high cpu load. I have seen cpus locking up when throttling up and down under changing load. Can you set the system so cpu throttling is turned off and see what happens but probably means it will run on rather low frequency? (a bios option?) Daniel.
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-- dan062 <dan062@yahoo.com.au>