It wouldn't be a Cyrix CPU would it?? :-)

I've seen this problem with certain Cyrix 6x86 processors. Sometimes you need to run the install with a different CPU and then swap back to the Cyrix after it's up and running.

Also, it may be a bad CPU all together, or bad memory. Since Windows 95 addresses memory quite differently to Win 3.1 these hardware failures may not become apparent until you try to run Win 95. Try swapping out CPU and/or RAM.