Windows XP Blue Screen Question BAD_SYSTEM_CONFIG_INFO

I have a Dell Laptop (couple years old) that has Windows XP Pro installed on it.

The Laptop is now doing a "Blue Screen" when started up.

The Laptop boots past BIOS into "Windows did not start successfully" screen with options:
Safe mode
Safe mode with networking
Safe mode with command prompt

Last know config...

I have tried all above and they result in Blue screen.  

The Blue Screen says:

BAD_SYSTEM_CONFIG_INFO

Tech info:
** STOP: 0x00000074 (0x00000003, 0x00000002, 0x80087000, 0xc000014c)

What is the best way to fix this issue?  

I could take out the hard drive and connect to USB to SATA harness to see Laptop HDD drive as a local drive and examine the boot files etc. but I am not sure what to look for and fix..

Also, I could put in a Windows XP Pro disk and do the repair option etc. but not sure how to do this method (what options to pick) etc..  I know there is a way to put in all the standard XP Pro boot files but do not know the best way and steps to do.

Other mehtod to fix etc..

Thanks