Had the exact same experience. Even replaced the mouse.
I have Windows ME running on a Dell. I formatted the C drive after backing up the files I wanted to keep, and re-installed everything. Computer boots up in 25 seconds now, response time is noticably faster and I have no more freezes. If you use the Internet a lot, you've probably got Spyware or a virus on your Registry...both of which can be hell to remove.
Newarksmells