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Re: BSOD (serious one) on Dell's laptop - PhD thesis in there!!
Starting in safe mode was the best thing to try first. If it still won't start then that should rule out corrupt drivers etc. It's either going to be a corrupt Windows kernal file or (more likely I think) a faulty memory chip. Flip the laptop over and remove the memory. Then reseat the modules and try again.
If that doesn't work then the only other thing would be a repair install of XP. Depending onn what it need to do it should leave the data and programs intact. It might also be worthwhile seeing if you can get hold of a Linux boot CD with drivers for your external hard drive then assuming that the file system is intact you should be able to copy data onto the external drive just in case.
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