I have a Compaq F767nr, equipped with the Quanta 30EA motherboard running Windows 7 64 bit. I think I have exactly the same problem. Here's what I know so far. When starting through the HP Phoenix bios v F.08 dated 04/25/2008, it takes forever to start.
My DVD drive has been intermittent, so I pulled it out of the slot for further inspection later. Lo and behold, the machine started perfectly, so I left the drive out and it's been starting like a champ. I assumed I had a bad drive, so I ordered a new Sony Optiarc AD-7580 to replace the AD-7560 DVD burner. Meanwhile, it's starting like it hasn't for years.
I received my new drive and slammed it in. Back was the painfully long boot and I couldn't see the drive in Windows. After a few loooong restarts, Windows 7 found the Sony DVD and installed the Optiarc drivers
. I rushed on over to DVD properties and it took forever to open properties, but the device was there. Now, I'm back to loooong boot times and sporadic drive use. I guess I didn't have a bad drive, after all. I'm gonna pull out the DVD drive, so I can boot normally. I hope this helps.