Hello, I am sorry to see your having problems with Blink. I don't have concrete answers for you, but for some folks, Blink just does not get a long well with their system for any given reason. It is a very diverse application and has many internal layers of protection that are performing a lot of analytical functions (more so than most security suites might I add). It covers multiple layers of your system and anyting that is competing with it trying to cover the same areas can cause confliction. It could be anything from another security program, to a system that just needs reloaded from scratch (yes that sounds weird, but I have seen this as the problem in the past.)
First off, I noticed you were not using the latest version of Blink Personal Edition (4.1.0 as of 05Sep08). While this may not be your problem, a lot has been fixed and tweaked in version 4 (release notes: http://forums.eeye.com/forums/t/671.aspx). Since you currently have an older version installed, I would follow what I recommended to this user in this post located here:
http://forums.eeye.com/forums/t/689.aspx
This is a point to start at. You may also find that the cleaning program I pointed out in this post (Ccleaner) will rid your system of a lot of unwanted items that you did not know was clutter to begin with.
If your still having problems please let us know.