It could be a number of issues related to either the hard disk controller driver, the controller itself, the drive, the drive cable or the BIOS. You should have received a little more information from your BSOD (could you post it?).
In the meantime, see this...
1.The file system is damaged and cannot be mounted.
2.You use a standard 40-wire connector cable to connect the UDMA drive to the controller instead of the required 80-wire, 40-pin cable.
3.The basic input/output system (BIOS) settings are configured to force the faster UDMA modes.
Before you go swapping-out hardware, your best bet would be to source a copy of XP that corresponds to your license (provided your product key is genuine, you shouldn't have a problem). It sounds like you have an OEM license so it may be best to start there (alternatively, you can phone the manufacturer and they should be willing to provide you with a genuine copy).
From there, boot the XP installation CD and enter the recovery console (press R). After a short while you should be presented with a command prompt. Finally, enter the following...
In the meantime, you may want to try NTFS4DOS (it comes bundled with a version of chkdsk for NT/2000/XP). You should be able to find it under "NTFS Tools" in UBCD 4.1.1.