Custom Build Computer, BSOD on first day.

I just built my first (cheap) gaming computer today.
However, I keep getting blue screened, and it happens very frequently.
Within the last 3 hours of trying to troubleshoot this issue myself, it has blue screened on me about 12 times.

I cannot be certain when/why it occurs. It's happened while playing Binding of Isaac and League of Legends. It has also happened when I was not interacting with the computer. It has also happened immediately after another one, blue screening before I even get a chance to sign in to windows.

My parts

Motherboard : MSI H77MA-G43 LGA1155
Processor : Intel Core i5-3350P 3.1GHz Quad-Core
Memory : Corsair Vengeance 4GB DDR3
Power : Power Supply 700W CoolPower 20+4-pin ATX
Case : Cooler Master HAF 912 RC-912-KKN1
Hard Drive : WD 500 GB CAVIAR BLACK SATA 7200 RPM
Graphics Card : Asus GeForce GT640 2GB DDR3 901MHz
OS : Windows 7 Home Premium x64

What I have done
-checked for unusual behavior (sounds/smell) inside the case
-attempted to find and updated any and all drivers
-used bluescreenviewer to try to isolate problem (I think it's the NVIDIA graphics card)
--uninstalled all nvidia drivers and programs
--boot in safe mode, then use drive sweeper to clear out any remaining nvidia drivers
--reinstalled nvidia drivers through windows device manager (does not updated to most recent version)
--updated to most recent version through nvidia website

Thank you for your help!

Hi Yupei

First you need to update the BIOS to Version 1.C either throught the MSI live update utility or using the utility provided in the BIOS download

Second install Windows SP1 update

Do these and let me know if it BSOD's

Currently doing as you said, in the process of updating BIOS.
Earlier today I downloaded .net framework 4 and did some automatic windows updates.
I also ran MemTest86+ and FurMark this morning with no issues.
Have not experienced a crash today.

I updated the BIOS, but whenever I try to do windows update to SP1, it keeps giving telling me the updated failed. Error code is: 800B0100

Edit: Proceeding to test system readiness using a windows tool

It seems I broke windows update.
All of the updates are failing.

Also, blue screened after the intro video of Borderlands finished.

Yupei

Please run sfc /scannow and post the cbs.log file

Attached, seems nothings wrong?

Okay, computer just crashed and keeps telling me to repair. I'm just gonna reinstall windows.

Yes please do a clean install rather than a reinstall.. and install the drivers and updates ...