Ohh good, I was going to ask about the home key.
Seems like it could be a battery issue for starters.
tried booting with the power connected? I don't know if it will work.
I found that when mine bricked into the constant boot, it would not charge the battery during the boot. I let it sit for a while and had just enough power to get through the Linux set flags options. It's a standard Nokia battery, maybe you have a compatable nokia phone or know someone? Check walmart, atleast you can return the battery there.