I presume that Win98 and WinNT have FINALLY used a feature which has been present since the PC AT, the one with a 286. The NMI is connected to the second timer chip. In fact the only one channel of PIT#2 is used, and that is the one connected to the NMI, through a gate (which I don't know how to enable, can anyone inform me on this?). The NMI handling routine can check if the timer has timed-out to differentiate it from a memory system failuer.
This feature was intended for operating systems to detect crashed programs. "Information has a tendency to be free. Which means someone will always tell you something you don't want to know."