The first thing to try is resetting your Photoshop preferences They remain around even when you uninstall an reinstall...
Do one of the following:
Press and hold Alt+Control+Shift (Windows) or Option+Command+Shift (Mac OS) as you start Photoshop. You are prompted to delete the current settings.
(Mac OS only) Open the Preferences folder in the Library folder, and drag the Adobe Photoshop CS Settings folder to the Trash.
New Preferences files are created the next time you start Photoshop.
When something is working one day, but not the next, then something has changed. Your task is to figure out what has changed.
Things like simple OS updates can kill video drivers, and PS interfaces pretty closely with those, though not nearly as much as Adobe's video-editing PrPro. I'd start by updating that.
It that has no affect, then do a manual System Restore Point (for now), and boot to Safe Mode. Roll back to a System Restore Point from when it DID work, and test.
PS - if you have added any hardware, software or fonts (yes, fonts), please let us know.
Here is what Windows 7 event log has to say about it:
Faulting application name: Photoshop.exe, version: 10.0.0.0, time stamp: 0x4601eae8
Faulting module name: KERNELBASE.dll, version: 6.1.7600.16385, time stamp: 0x4a5bdbdf
Exception code: 0xc0000005
Fault offset: 0x0002db4b
Faulting process id: 0x172c
Faulting application start time: 0x01cb1fdf89ed8cd5
Faulting application path: C:\Program Files (x86)\Adobe\Adobe Photoshop CS3\Photoshop.exe
Faulting module path: C:\Windows\syswow64\KERNELBASE.dll
Report Id: d702a62e-8bd2-11df-a226-002564db8406
This is a business system which comes with virtually no bloatware, and I cleaned up what little there was long ago.
I understand about rolling back but it's not a practical solution in terms of time -- it takes six hours to restore to an earlier backup, and then another six hours to bring it back to the present. And that's not counting the time spent trying to pinpoint why it works in the previous state but not in the current one. I need my business software to work for me, not vice-versa. If it comes to that I'll simply get off the Photoshop ugrade merry-go-round altogether and go to something simpler but more robust, such as GIMP.
I did check the video driver and it has not changed in months.There have been no additions of hardware, software, or fonts since Photoshop last worked. Also I don't allow Microsoft Updater to automatically update the system. That does not necessarily mean that nothing has changed, since things like Norton Internet Security have minds of their own. But there has been nothing affecting the OS.