One simple task you might want to consider is simply reseating all the items in the case. After years of use, being bumped (moved at all?), etc. it's very easy for things to gently slip ever so slightly out of place. Before trying to swap out parts or track down esoteric BIOS functions, just try making sure everything is set physically.
As for underclocking in general, I currently undervolt my system just because I'm a sadist who likes to see how low I can go before the system chokes up. It won't harm anything (if anything it helps reduce heat), and it's easily done. In your case, though, if you are overclocking at all, go ahead and move things to their stock speeds and settings after ensuring all the parts are properly mounted/secured. If it runs fine at stock, then bump back up until you see a return of the problems.
Ultimately, if neither of those is the problem, then you're stuck tracking down physical wear and tear problems. I had a problem recently with lockups on my 4-year olds computer--and after close physical inspection found a capacitor with some nasty residue on it. Over time everything breaks down, unfortunately. Hopefully your problem is better solved than replacing a major component.