I'm the guy who made the first reply. I didn't even notice "HP Pavilion". HP is VERY well known for burning out chips (especially nVidia chips that manage the SATA "fake" RAID).
Replace the motherboard and this thing will fly (you can use the same CPU since it's probably fine). Unfortunately, your Windows installation will likely not activate with the new motherboard. HP does not care at all about these dying system (look on the HP help forums... most of these machines die 1 to 3 months out of warranty).
It's junk, unless you have a Windows 7 retail CD or you really like Linux (I recommend Lubuntu for those that need something that works and is easy to get up and running).
Also, NEVER buy HP... anything.
