Looks like you have drive seek errors in ddition to the lost CPU ticks.
I suggest you check the memory and HD. If you can reproduce this on a
later version of ubuntu after checking the hardware you should file a
bug against the kernel.
** Changed in: ubiquity (Ubuntu)
Status: Needs Info => Rejected
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Pentium 3 at 150MHz!? losing some ticks (and ide errors)
https://launchpad.net/bugs/66654
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