Nothing is working properly, Not even copy paste

I don't know whats happening to my MacBook Pro !

Today morning I had a 6 hour train journey and when I reached my home, I opened my MBP and first iTunes gave a weird message that it did not find the iTunes library . I searched and showed it the location of library .
Then I opened Macromedia Dreamweaver & Adobe Photoshop, its not been 10 mins since I opened it (it was in sleep mode, as always) and now its burning Hot !!

I shut it down for 1 1/2 hours to cool down. Finally it opened up after around 10 mins which seemed like an eternity. Spotlight won't search everything so slow !! its like running a Windows 95 machine.

After quite a few tries, the spotlight somewhat got balanced. But now a big problem came up - the text COPY/PASTE won't work (the file copy/paste is working). Just imagine working or just surfing without Copy/Paste :|

I can't drag a file to a running program like a music file to itunes or some file to upload via Transmit etc.

Any help is appreciated. Thanks !

I just noticed that I can't drag link to bookmark toolbar in my Firefox.

Something is seriously wrong

I forgot to mention that when I open Photoshop , it first gives me a pop up error - "Could not import the clipboard because of a program error." And I can't save any file from Photoshop as it says "Could not complete the Export Command because of a program error."

And sometimes it crashes with message "An unexpected and unrecoverable problem has occured because of a program error. Photoshop will now exit."

Thanks! it some how cured itself and I think clearing the preferences helped .