if that fails, then you are looking at recovering your personal files and starting over.
I note that all Safe Mode options fail, but did you try the one "Safe Mode with Command Prompt"?
It would allow you to use System Restore from the Command Prompt, but it will need you to log in through Safe Mode into an Admin account. More details here;
http://support.microsoft.com/kb/304449
If that fails there is little else you can do except start again. You don't say much about this computer but many retail machines like Dell, etc, come with a recovery partition. If yours does then you can use that to restore the machine to new. If you know the make and model number, go to the maker's web site and search for recovery options for that computer.
Other than that, it looks like you need to purchase a new XP CD.
To recover files before you start over, you have options;
1] Look up Knoppix Live CD in Google. This is a Linux Operating System on a CD. You can boot up with that and it may be able to read your hard disk and find your personal files, so you can transfer them to some external media.
2] Remove the drive, connect it up as a slave in another computer, or install it in an external casing, connect that to a USB port of another computer, and transfer your files that way.
I hope that helps.
Mark