Pip is right on. I just went through that myself and was tearing my hair out. And built a new computer just in case.

I stuck in a cloned drive with a fresh OS, same thing. So it's hardware, huh?, sez I. It came down to bad front USB ports, can you believe it? My external HD is now plugged in the back.
But while trying to nail it down, I read about all sorts of possibilities: bad memory (tested mine with MemTest), video card, a bunch more. Sorry I can't be of more help on this, like Pip says, process of elimination. Good luck.
