DV7 SE - CPU throttling resulting in DPC spikes

I purchased a Pavilion DV7 Select Edition a month ago with the intention of using the computer as a media and gaming platform. Unfortunately the computer is plagued by lockups in which audio stutters and video freezes, this occurs in playing audio, watching videos, or playing games. Using a DPC monitor i found that whenever my cpu throttles DPC spikes, resulting in a lockup. I used throttlestop to disable turboboost, this stopped the lagging 90% of the time. It still occurs while gaming but less frequently, however, I have to take a framerate hit due to lowered clockspeeds. I have searched extensively and have not come up with a solution, any help would be appreciated.

So far I have updated all drivers, update bios, and systematically disabled hardware while monitoring DPC.

Specs:
DV7-4000 Select Edition
Win7 64
Intel i7 720qm
6GB Ram
ATI Radeon 5650
2x320 GB HDD

 

Which process is causing the spikes? You can use task manager to see which process(es) is the culprit and go from there. If you can't determine if it is a software issue, then I suggest running some hardware diagnostic tests.

If you don't see anything wrong in the diagnostic tests you can either reformat or restore system to default manufacturer's settings.
Make sure you backup your data first.
If you're still having issues after a system restore/reformat then the issue might be hardware. Contact HP support for further assistance and tell them the troubleshooting steps you took.