I open it, and occasionally, it says Photoshop has caused an error in USER.EXE when I try to use text... IT REALLY SUCKS TO LOSE A 50 LAYER PSD WHEN THAT HAPPENS!
I got USER.Exe errors all the time. Let me guess, you're using Windows ME? The only thing I can tell you is to reformat. I did it on a monthly basis when I had it. Worst OS ever.