Can you start up in safe mode? (pressing F8 after POST)
When you get the blue screen, the last file at the bottom of the screen on the right is the one causing the problem, if you can boot in safe mode you can remove the device killing the system.
Also, you could try to repair the OS if you have the CD. The trick here is to boot to the CD, let it load drivers and it will get to a screen where you can either install the OS or repair using the recovery console. Chose install, NOT repair, Then you will have an option in the next screen or 2 or 3 to repair the Windows OS. It is here that you want to chose repair. Good luck!
-Chris