Constant Computer Freezes and upgrade question

Okay, so I have an older motherboard, an EVGA k8-133-nf41, that has been giving me some terrible life cursing problems. Basically, even with all ram removed, (minus one of course) and no hard drives connected, it freezes once it gets past the bios. I've been using a ubuntu cd to run tests on my ram and hard drive (I did manage to test one stick-fine and one HD-fine) but now it freezes when loading the cd into ubuntu.
It would also freeze repeatedly once it started a windows XP installation (after full reformating-not quick).

Any ideas on what to do to make sure? I don't exactly have extra cpus around to check with and a single core is not something is I plan on buying just for testing.

So... should I just forget it and try a new motherboard/cpu? If i wanted to spend around 150-200 to get both, is there something out there that is worth it? Or should I save up more to buy something more impressive? I've been out of the computer building game for some time, (as you can probably tell) so any advice on something cheap but worthy of playing games decently is helpful. I can likely use my old Video card (ATI 1900x) and case for upgrade later. I've also got free new memory, and a load of ddr2. (Power supply is new-650w)

Something like this is a bit tricky. Since it's an old 939 board I think you are due anyway, so my advice would be to replace it.

Here are a few good deals for you to consider:
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http://www.newegg.com/Product/Comb [...] mbo.273358

http://www.newegg.com/Product/Prod [...] 6819116091
Plus
http://www.newegg.com/Product/Prod [...] 6813131395