LE 6.2.3 Static Or White Noise During Playback!!

[Sicks]

Ok, iBook G3 900mhz, 612 ram 60 gig hd, 002 with a 40 gig firewire drive, OS 10.3.3

I have no idea what this is, but I assume it will come down to processing power, which is not cool. Let's say I start a new session and import audio to 3 different tracks. Go back, record another 2 or 3 tracks of audio, mono for this example. Start to playback, everything will be fine until I hit a new region of audio, then the loudest static or white noise comes blasting through the speakers, or to my artist's delight, their headphones. Now, stop playback, drop the marker somewhere in that same audio region that triggered the noise, and it plays fine. Move the marker a bar or two in reverse, back to terribly loud noise again.

I'm totally lost and I never had this happen with 5.3.x on Jaguar.

Does anybody have a clue?