Try removing the most recent apps you installed from the Market. Chances are you have a few apps that do not work well together or perhaps an app that was corrupted during the download.
Mine started locking up or going through a continuous reboots about 2 weeks ago. It started maybe once a day and progressed to every couple of hours. I tried removing apps that I don't use and even some that I do use. I also kept a log trying to find a common cause. Nothing seemed to help it only go worse so I tried a hard reset and that didn't help either. I took it to the VZW store with it locked up at the red light boot screen. They didn't spend any time looking at it, just told me they will send me a new one.
Instead of removing the battery to reboot you can try using CTRL SHFT DEL to reboot