Speculating that the problem is corruption in your install either Photoshop itself, or outside of Photoshop under System 9, after backing up the data and performing the routine Mac maintenance gballard.net, I would first rule out a simple extension conflict:
Problem no clear with Base Extensions:
Problem no clear:
I would then rule out everything outside of Photoshop by:
If it launches here, booted off the CD, the problem is on the install somewhere outside of Photoshop the hardware is not the problem (or it would have failed to launch here, too).
Some people will "Clean Install" the OS at this point to try to clean out the corruption (though I don't recommend Clean Install because chasing corruption is too dang time consuming) but you may get lucky.
For more indepth troubleshooting Photoshop: Troubleshoot Purge Uninstall Reinstall (System 10).
[Me] I would have Erased and Restored my boot volume at the point where problem didn't clear with Mac Base Extensions.
by: ©2004 G. BALLARD • www.gballard.net
Note: G. BALLARD prefers a shredding if he is wrong or unclear.
G. Ballard, www.gballard.net, receives no compensation from, and is not affiliated with Adobe Systems, Inc., or Bruce Fraser or his associates or their many commercial enterprises.