I think he's talking about loading the text.x, flubber.x, and mslogo.bmp from his F: drive not just the ind-bios.cfg, but yes it is possible to load everything from F: that's what i do (XBL Safe)
You just have to unpack the ind-bios with xbtool and then open the xboxkrnl.img with a hex editor then do a text search for .cfg and then you'll see something like \Device\Harddisk0\Partition2\ind-bios.cfg and below this line you should see the rest of the .x and mslogo.bmp locations, but all you have to do is change Partition2 to Partition6 and then repack the bios with xbtool and flash your chip again