Sorry to see this so late, but....
I was having the same problem with Live 2005, as well as the infamous XP crashes when running Live 2000. I tested the RAM using Memtest86+, and discovered that the two 512 SIMMS were good individually, but when tested together failures were the result.

This sounds like a MoBo problem for me - maybe Threatz et al. can comment on this.
I removed one 512 SIMM and the game ran perfectly. This may not solve your problem, but it can't hurt to try. Start by downloading Memtest86+ and checking your RAM....
- Tim