I too am getting this message on my cousins computer but can't get anywhere but the blue screen on start up then it says that c:\\windows\system32\config\system is not found and then reboots to same thing, i have tried to recover and reinstall with no luck. I can't get past the error codes :: PAGE_FAULT_IN_NONPAGED_AREA, STOP: 0x00000050
Have you run a full harddrive diagnostics as well as chkdsk scan? I know she is getting a new one but it would be interesting to see if that is where the issue lies.
Also, have you scanned for possible infections?
Lastly, how long did you run memtest?