my 80 gig 1st gen. is doing the same exact thing.
SO, i tried the suggestion about holding buttons and such but with no luck whatsoever. It just keeps on restarting. When i try to 'restart' withe the (back) button and (up) direction it simply shuts off.
Also, recharging the battery to full won't work since it won't even stop resetting long enough for my computer to recognize it and charge it. So maybe i can just let it spaz-out until it really is dead so that i can start from there.
* just a thought*. This began late last night while i was listening to a podcast on headphones. It started by pausing every 10-15 seconds and continue playing where it left off. Today, it just decided to turn on me. But i KNOW that i was charged ....hmm..
-gS