Sounds like you have a bit of a battery problem there. Is it a brand new battery? Did you let the battery go completely dead? You should always charge the battery before allowing it to get to 0%.
My Sprint 8330 has been doing the exact same thing over the past week or two. Either my phone will reset itself, or I end up getting the blank white screen followed by the hour glass. I don't know what to do...any suggestions?!?