Okay, the reset SMC seemed to work a little bit but then the MBP went into a huge downward spiral of instability.
I moved all of my files off onto an external Firewire drive and I wiped my internal hard drive. Erased the whole thing and did a clean install of Mac OS X Lion 10.7.2 via a bootable USB keychain drive See http://mashable.com/2011/07/20/lion-clean-install-guide/ for information on how to make a bootable DVD or USB keychain drive with your purchased Lion download.
Then I took the tedious process of reinstalling all of my apps. One mistake I made was I forgot to deactivate my Adobe products before erasing the drive which means I may have trouble re-activating them again if I've gone over the limit of installs. Adobe is a real pain to customers with their system.
The computer is running well now, indexing of hard drive is going well via Spotlight. No more random crashes. When I do a Repair Permissions the resulting log is down to one line, yep. Probably after years of upgrading though the OS X versions have taken its toll of junk in the System.
Clean install is the way to go. Very long, very tedious, takes at lest a whole day from your workflow but worth it.