just an update...I just installed a fresh copy of Windows 7 and I'm still having the same exact problem. I've disconnected all unneccessaries, so I'm down to the mobo, cpu, mem, hdd, monitor, and PS2 keyboard.
I haven't installed any drivers, so it's using whatever Windows decided to use (judging by device manager, it looks like all the hardware was accurately identified). While I can't completely rule it out, I don't think it's a graphics driver issue as I've seen it freeze in safe mode. I do have a PCIE video card, but I still get the same freezing problem using that card.
I let memtest-86 run overnight and I didn't get any errors after 9+ hours. However, as soon as I opened the memtest configuration options and then closed the options, it popped an error and froze. I'm not sure if that's indicative of a hardware issue, or if that was an error from the memtest software.
The system locks up just copying files on the HDD - just creating a copy of a folder in the same directory.
Could it be something as mundane as an IRQ conflict? I'm completely out of ideas...