Does this problem graduate to removal of the Audio Device? I load the defaults and the next time the system boots it removes my audio device. I have had the "Generic Host Process..." message so many times that I had begun to dismiss it.
Sounds like windows xp on your computer is breaking down, my suggestion is to run a backup and reinstall xp. Although you might fix it for now, once xp has one error message, they will begin to pile up.