Stuck in boot cycle.

My first post here. I will try to not be too annoying.
Windows XP media center edition 2005 on an HP

I picked up a fake virus scan virus yesterday. I ran Spybot, Malwarebytes and did a boot time scan with avast.
They turned up Fraud.Sysguard, some Java thing which was a new one to me and SKYNET which I had dealt with awhile back and thought was gone.
After I ran the scans and tried to clean things up Internt Explorer would still give me the error screen.
I tried to do System Restore but it would fail to restore to any restore points.

I was toying with the idea of running Malwarebytes in safe mode so I used msconfig to boot into safe mode when I restart the computer.
It would appear this is where I really messed up. Now none of the options I choose will run. It shows the black XP sceen for a second and then reboots. Safe Mode, Safe Mode with Networking, Safe Mode with Command Prompt, Last Known Good Configuration all lead to reboot over and over.

If I go to the advanced options menu I can disable automatic restart on system failure and I get a blue screen telling me to run CHKDSK/F and then restart. Also Technical information: STOP: 0x0000007B (0xF898E524,0xC0000034,0x00000000,0x00000000)

Most of what I know about computers comes fron dealing with viruses and trying to figure out how to get rid of them by reading sites like this one. I have a feeling I'm in for another big learning experience.

Any help would be greatly appreciated. Thanks.

I thought this was going to be extremely difficult but a little help went a long way.
I was told to press F10 at start-up and that put me in PC recovery. I ran that and with a little extra work reinstalling some applications everything is running smoothly.