Win2k problem on startup

Folks, a friend of mine has the following problem:

I helped her installing Win2k from scratch, + ServicePack 4.
It used to work fine for sometime, but one day the problem started (have no 
idea of what created the problem):

Has McAffee antivirus active, and just run SpySweeper a few hours ago to make 
sure it was not the result of any spyware or the like...

The system is just for home use, so it is configured to work always as 
Administrator, without any password.
So, when PC boots, first signon display is automatically bypassed, and start 
goes on, it gets up to "Loading your configuration"... and then will freeze... 
for ever. Full blue display, mouse hourglass.

If, then, we use Ctrl+Alt+Del and select "Close Session", 
- the session closes and the Signon display appears
- since, as mentioned above, no password is used, just press Enter
and then everything works OK...

So, what can be freezing the system at first signon?

If, while frozen, I reach (again, with Ctrl+Alt+Del) the Task Manager, then I 
see no Applications and normal processes. CPU is absolutely idle, like waiting 
for something to happen...

As mentioned, if close seesion and reopen session, then everything works OK...

Any ideas? TIA

Antonio Fernandez-Vicenti
afvaiv@xxxxxxxxxx