Are you able to try safe mode instead of just safe boot?  Also I can't remember what the XP recovery disk was like, you could try that.  I know once i changed some settings with Win7 which caused my PC to bluescreen on boot, I just popped in the recovery disk and it put the settings back to the way they should be.

Either way there is most likely nothing wrong with the hardware, if there are no files you need to recover from the harddisk you could just reformat right away.  If there are files you could use a linux livecd to mount your windows partition to grab whatever you need off before reformatting.

Without any error messages It's a bit difficult to pin point why it's not booting up, someone might have that answer but reformatting is always nice anyways with XP.  Gives it that new fresh feeling to give to someone else.

If you could Dr Guy thatd be great. I forgot to mention that it's Vista 64 bit, if that helps. I'm gonna rip the files we need off of it and system restore I guess, Seems to be my only option.

Try this HP page it has several options to look at

http://h10025.www1.hp.com/ewfrf/wc/document?docname=c00899280&cc=us&lc=en&dlc=en

I have had that happen before as well (CD first, a non-bootable, but apparently some thing on it CD messes up the boot).  I would say that if you can boot to safe mode, a system restore is very much in order.  It is quick and relatively painless.  If it will not let you do a system restore, then you have a bigger problem (a trojan) that is a bear to get rid of.