Well if it'* that old then there is no warranty left on it. Maybe it could be the controller. Also if you say it freezes, it could be that the DVD drive is getting dirty and the lens needs to get cleaned.
My friend'* box started freezing frequently. Replaced the dvd drive with a modded Samsung and it works great. I think early models got a bad batch of drives. They were changed before I got mine. I had a different drive, and after the same usage, Iv'e got no problems.
The original Xbox'* game with a Thompson DVD drive, which didn't last that long (I'm suprised your'* has lasted this long). My first Xbox had the DVD drive crap out on me. The newer Xbox'* contain a much better Samsung or Philiips drive, so you may need to swap out your DVD drive. As many stated above, the controller may be shot if you wrapped it too much (and yes there is a "wrong" way).