I've got an iPhone 2G with the recovery mode loop, tried everything to get it to work but everything fails...

I think I know what causes the problem, but I need someone to explain a part of this iRecovery log:

iRecovery - Recovery Utility for 0x1281 and WTF.
by wEsTbAeR-- and Tom3q

Got USB


=======================================
::
:: iBoot for m68ap, Copyright 2009, Apple Inc.
::
:: BUILD_TAG: iBoot-596.24
::
:: BUILD_STYLE: RELEASE
::
:: USB_SERIAL_NUMBER: CPID:8900 CPRV:20 CPFM:03 SCEP:05 BDID:00 ECID:0000033FA8103D77 IBFL:01 SRNM:[7S743GYTWH8]
::
=======================================

[FTL:MSG] Apple NAND Driver (AND) RO
[NAND] Device ID 0x2555d5ec
[NAND] BANKS_TOTAL 4
[NAND] BLOCKS_PER_BANK 8192
[NAND] PAGES_PER_BANK 1048576
[NAND] SECTORS_PER_PAGE 4
[NAND] BYTES_PER_SPARE 64
[FTL:MSG] FIL_Init [OK]
[FTL:MSG] BUF_Init [OK]
[FTL:MSG] FPart Init [OK]
read old style signature 0x43303035 (line:301)
[FTL:MSG] VFL Register [OK]
[FTL:MSG] VFL Init [OK]
[FTL:MSG] VFL_Open [OK]
[FTL:MSG] FTL Register [OK]
[FTL:MSG] FTL_Open [OK]
Boot Failure Count: 7 Panic Fail Count: 0
Delaying boot for 0 seconds. Hit enter to break into the command pompt...
HFSInitPartition: 0x18071280
Not HFS+ (signature 0xffff)
root filesystem mount failed
Radio failed to respond.
Radio failed to respond.
Pinging Radio Failed, 4
Entering recovery mode, starting command prompt
] on = "0x3"



I think it has something to do with the bold part. Is someone able to explain me what it means?

DFU mode is possible, so is the beginning of redsn0w until the program on the computer says "done" and the iPhone is uploading the ramdisk infinitely (spinning thingy).


Cheers