The sensor is getting ready to go. Those lines are caused by row- or column-readout errors, and the blown out color is bloom.
considering that you can get a K200D (which has a more modern sensor than the istD, weather-resistance and in-body image stabilization to boot) for $230 right now on Adorama Used Department, I'd ditch the istD. I think repair would easily cost as much, and the istD sensor might not even be available anymore as a part.
Or, get yourself a new K-x or K-r, which will definitely cost more but provide much more functionality.
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