We have a laptop running Windows XP and recently it started to go really slow. I went through and looked at the processes that were running using Task Manager and got rid of the ones that were not needed. That did not seem to solve the problem, so I downloaded ProcessExplorer. It showed that Hardware Interrupts were using a high amount of the CPU.
Turns out ATA/IDE controllers will often revert back to PIO mode instead of Ultra-DMA. (MS KB article on the problem here.)
To see if you have the problem, check the controller’s Primary and Secondary IDE settings: Device Manager -> IDE ATA/ATAPI controllers -> Primary or Secondary IDE Channel -> Properties -> Advanced Settings. Look at the Current Transfer Mode field. If it’s “PIO” then you have the wrong setting and you’ll need to uninstall the driver, reboot and let XP reinstall the driver.
After doing this, the problem went away.