Please give more history on this problem - Before this problem did you change/add/remove any hardware, any drivers; did you install or uninstall any software?
When you "formatted" I assume that you did a format from the Windows install CD and then did a "clean" install - is this correct? Were there any problems installing Windows? Are you installing from original CD's/DVD's or copies?
1) Download and run the diagnostic software from the website of the manufacturer of the hard drive.
2) Disconnect everything from the computer except: one RAM module, keyboard, mouse, graphics card and monitor.
3) Try another power supply of the same or greater wattage.
Try each in the order listed and post back.