No, you don't need a new system. No sata drives, right?
If you have grub as the bootloader, try this. While in Mandrake, go to Konqueror in superuser mode. Or if you know about vi, then use vi. Get into /boot/Grub and click on menu.lst.
Look for the first line that says something like;
kernel (hdo,5) vmlinuz root=........
at the end of this line try adding noapic so that you have;
kernel (hdo,5) vmlinuz root=........ noapic
Make sure that their is a space between the last entry and noapic. Save the changes.
Reboot the system and see what happens.
If ths works, then see how your video works also. Post back the results.