Share your experience!
Recently my FX503 has been 'freezing" and I have had to hit the power swtich to shut down. When I reboot - sometime it does, other times it gives me an "operating system not found" message.
(I have also been having problems with it not recognising my wireless card unless I reboot - seems like I have to do two reboots of windows for it to recognise it. This may have nothing to do with the OS not found problem and more related to the order things start at boot)
Hard disc fault? 
It does sound like the hard drive is failing. Run scandisk (complete scan) & see if there are any faulty sectors.
If there are, then backup your important files a.s.a.p. and replace the drive.