Beagleboard xM - spidev3.0 not working - 3 hours later = bricked

Background:
Beagleboard xM rev A
spi has been working for over a month now

Events:
While using SPI last night, I observed some strange behaviour.
-After running for an hour, a program that I had not changed began to
act strange. It was because SPI was not working properly. Only the 1st
couple bytes were making it through and it looked like the rest had
timing issues.

-A few minutes later, it segment faulted. Again, on a program that had
not been touched in a while.

-I restart the program, it run for a few seconds fine before the same
behaviour occurred.

-I installed a backup of the program that was failing (from a month
ago)....same observed effects.

-I removed all SPI code from the program, it ran fine. No trouble at
all.

-Tried restarting the beagleboard. Same effects.

-After grasping at straws for a while longer, I went to restart the
board only to get either one of this two lovely messages:

Texas Instruments X-Loader 1.4.4ss (Dec 21 2010 - 23:50:55)
Beagle xM Rev A
Reading boot sector
u-boot.bin not found or blank nand contents - attempting serial
boot . . .
## Ready for binary (kermit) download to 0x80008000 at 115200 bps...
// Hangs here

or

Texas Instruments X-Loader 1.4.4ss (Dec 21 2010 - 23:50:55)
Beagle xM Rev A
Reading boot sector
// Hangs here

- I tried different flash cards with different kernel images and boot
loaders. Same messages every time.

Can anyone explain this are point towards potential issues?
I have been very abusive with hard resets and applying power to the
board (always 5 Volts but sometimes intermittently applied and
sometimes it just drops out all together while running.) Could that
cause permanent issues like this?