The problem: Laptop will only boot into Windows, only when a bootable CD is in the drive.
What it does: It'll ask if you want to boot from CD, press any key. Don't press anything, it boots.
Blank CD's do not work, only bootable CD's. If a blank CD is left in the drive, it'll still come up with Operating System Not Found, just as it does without a CD in it.
It isn't so much an issue that it annoys me, I'm trying to find the problem. Can the laptop be used right now, yes it can, as long as the bootable CD/DVD is left in the drive, and you allow it to go through the process. There is however a problem, and I would like to figure it out. It's rare for me not to find a solution to a problem, if I don't know the answer a quick Google search and you've found 100's of others who usually have been through it prior to you. This one, not so much. None of what I found, and tried, worked. While troubleshooting, I realized that if I leave the Windows Vista CD in it, it boots, so I've left it in the drive.
While I am experience in working on computers, I realize there are others out there who are much more knowledgeable than I am. There are people out there who probably have forgotten, more than I'll ever know. I also realize, that others may have this problem eventually too, and search for a solution and eventually come by this thread (assuming a fix is found) and be able to fix their machine.
The answer to one of your early questions, no I'm not looking to sell the laptop. It was actually given to me, without a hard drive, the old drive was destroyed so data could not be pulled from it. It was one of a few machines that were given to me, all of which without hard drives for the same reason, he didn't want his personal data pulled. I'm not sure what'll be done with it, just trying to figure it out, not finding a solution to the problem, does annoy me LOL It's rare, sometimes it takes me a little time, but I usually find the solutions, this one I just can't.