longreeno,
The bootable media CD is different than the F9 method. F9 gets you into the "inrom" build located on the recovery partition. Not the boot from CD.
Place the CD you created in the system, boot to it, and then run the extended advanced pattern memory tests. I would run all the tests but first concentrate on the memory, it is the most likely culprit.
If you don't find anything wrong, look into the drivers, these could be causing the crash also.
You should also get HP Support working on this.
-Fred