BSOD on my laptop - strange video aftifacts, is it the RAM?

BSOD on my laptop - strange video aftifacts, is it the RAM? My laptop recently started to BSOD when booting up XP (I haven't got the text of the BSOD yet). It starts up OK in safe mode except for the fact that the video output has a regular repeating pattern of corruption, a bit like this:
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Guest [Entry]

"If you want to tell if it's a ram issue run memcheck86. This only tests the onboard ram not any dedicated ram on the video card. Most non gaming laptops use the on board ram. You can download it as a stand alone bootable CD or it is included on all the ubuntu live cds if you have one.

It's also probably worth updating your graphics drivers in case it is a software issue. If you boot from a live cd and the graphics look ok it's a software issue if it doesn't your in trouble because that means hardware."