OK, to partially answer my own question, it was the external CD Drive. I got rid of the HiVal and got the Storix CDRW/DVD from Tigerdirect and I can boot from it now. I downloaded the latest Compaq BIOS but I still get that funny statement on the first screen that I need to contact the administrator if I want to make any changes. Anyway, the BIOS is not set with any passwords, so I cant figure out whats up or if it is just normal.
Have a safe weekend everyone,