The PXE ROM message is proper and is not a failure message. It only means the machine is trying to boot from the ethernet. If this bothers you then find in your documentation how to remove this from the boot devices (a BIOS setting.)
Back to your hard disk. Yes they can fail. This is why you read many discussions about backup. Also why many ask how to install an OS.
Bob
I'm not sure what's going on with it. I found an article that says the hard drive is shot but it's only about 6 months old. Any suggestions???

Chowhound
Comic Vine
GameFAQs
GameSpot
Giant Bomb
TechRepublic