The HDD's temperature is really disconcerting. Even according to google, such high temps, (avg is around 45 C) will kill a drive... [http://docs.google.com/viewer?a=v&q=cache:q7nqEvSwhZIJ:labs.google.com/papers/disk_failures.pdf+google+hard+drive+study&hl=en&gl=us&pid=bl&srcid=ADGEEShvzuvEYXdh1yhO0lkXfTbeRY56hp7UC0GJysAZRtxmUu_ftFJlKMx08F_72uDEXlI4tiFJme5OLduNdpGRYeMnrOzabAUUpmf5Z_idY2urJldpF9ONfykBSbHIow18LW4k7EdO&sig=AHIEtbRbvbB7ZqGFc1bggQVuooZwbSHAsg|source]
I'm thinking HDD here, but why is the temp so high to begin with? Is it a 7200 RPM? Try booting from an external HDD and if it works fine then that means its the HDD. How old is the drive?
How fast is the fans going now? can you feel the airflow?