This is typical of a pest that invades the systems.
What anti-parasite measures are you using?
What's running if you pull up Tasklist with control-alt-delete?
I installed SP2 on my XP system and now I can boot into Windows XP OK but once the desktop loads, it flashes off and reloads again.
When I say reloads, I mean it redraws the desktop, taskbar and icons. it does this every 5-7 seconds repeatedly and keeps me from even loading Control Panel so I cannot uninstall SP2.
It does this is Safe Mode as well so I am not sure how to get rid of it. Has anyone had a similar experience? Anyone know what I can do other than reinstall XP?