Thanks for your suggestion. I tried everything do without success. Finally I pulled my hard drive out and installed it as a second drive in another computer. I then ran scans using Spybot, Malware and AdAware. AdAware found 13 malicious infections, Spybot found one. After that, it worked perfectly.
Furthermore - I installed Revo Uninstaller (the pro version with a 30 day free trial) - and ran all the components. The program cleaned up the disk beautifully and it is now running better than ever.