Frankly it turned into a hunt for what it could be and a slow removal of items from the machine until it started working again. In my case it was some USB devices (external drives.) I have yet to find any specific item but let me share a few tricks.

1. Disable the sound card. It's a server, we don't need a sound card.
2. Remove all USB connected things you can. It's a repeating find here.
3. Ditch any server/service you can.
4. BEWARE if you went over 1GB RAM. Microsoft has documentation on this. I'll let you find it.

Good luck.