BSOD are not always driver or hardware related.
There is a guitar template preset in X1 that has Sonitus plugs in it that cause my DAW to hard crash with an actual Blue Screen in Windows 7. Yet, I can add the same exact Sonitus plugs manually, and I get no crashes. It's only when I use the template.
I know a lot of people say BSOD are caused by hardware and drivers, but that's not always the case. It is a vast majority of the time, but not always.
Seth ... are you familiar with how to make an XP slipstream installation CD? It will save you hours of time ... it's nothing illegal ... you'll need to copy your original XP install CD to your desktop and then follow the instructions on this web site to update the OEM installation files with the latest XP updates and then burn it all back to a bootable XP installation disc ...
http://www.ryanvm.net/msfn/