You've covered all the basics which I'd initially recommend..
*Latest chipset .infs
*Latest BIOS.
The only thing I can add to this, is to remove USB ports/controllers in Device manager...reload the chipset .infs...and reboot. Sometimes difficult to do with a USB keyboard and mouse. Can try it remotely or by using PS2 based. The logic for this, is sometimes just installing newer drivers doesn't always update drivers properly, and removing the hardware and letting it fully reinstall with the latest drivers makes for a cleaner update.
The drives appear to always work flawlessly in other computers, pointing the issue solely to this computer.
Before you remove a USB drive, do you always power it down the USB device properly before removal? (that icon in the systray). Many USB devices are "hot swappable"...but I've found that some (such as USB drives) should be properly shut down before removing, to help prevent damage to the drives file system and minimize power surges 'n help avoid shorting them.
A few weeks ago we came across an odd issue that I had never seen before. Some lady in the accounting office of an eye care center changed how she backed up her Quickbooks files, moved from some old external zip drive to a rotation of several USB thumb drives. But she couldn't get the USB drives to properly function on her workstation. She was inserting them in the front USB ports. Coincidentally after trying to use a USB drive, she could not print until she rebooted.
She had some USB printer plugged into one of the back USB ports.
When she plugged one of the USB thumb drives into one of the rear USB ports..it worked fine (just inconvenient for her to reach back there).
When we unplugged her USB printer, the USB thumb drives worked fine in her front USB ports.
To summarize, there is always the chance of some hardware conflict, so next thing I'd try is to unplug your printer, and perhaps try a PS2 keyboard/mouse if you have one avail.
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