I'm still a newbie in UNIX/LINUX though I do a lot of research on computer hardware.
1) Did you use an md5summer utility to check to see if the images are correct. Did you check them atleast three times.
2) Try taking out one processor and then try installing Redhat 8
3) Are your using ECC or non-ECC memory? ECC memory is prefer for dual processors.
4) Set memory settings like CAS2 to CAS3, memory speed to 100 Mhz, set interleave from 4-way to none or simpler terms set all memory settings to the fail-safe settings.
4) The Soundblaster LIVE! 5.1 MP3+ has problems with VIA 686B southbridge chipset. The problems are corrupted hard drives and probably computer stalls. You may want to get another sound card or switch with one you have in another computer. Turtle Beach Santa Cruz or Philips Acoustic Edge are great alternatives for the Soundblaster LIVE! series. ALSA supports Santa Cruz but I don't know if it supports Philiips Acoustic Edge.
Look in sound card comparison at
http://www.pcavtech.com.