atomiX I've done the same tests and can verify your results.
1) Ethereal reported that defaut.xbe on the DVD does use DHCP to obtain an IP address.
2) APILogger only lists up to the font being opened.
I've disassembled the default.xbe, and investigated the tests that lead up to the error message "BL: LAN Address is not correct" being output.
1st, bytes 3 & 4 of the IP address returned from DHCP are compared with 0x8E8E
2nd, the 2nd byte is compared to 0x50.
If any of these checks fail, the error message is displayed.
Finally the code sets byte 1 to 0x01
Thus I believe it's either expecting an IP address of 1.80.142.142, or 142.142.80.1 (depending on byte ordering) from DCHP.
Hexing the default.xbe thus
Offset 0x40E1, change byte from 0x74 to 0xEB
Offset 0x4108, change byte 0x76 to 0xEB
forces both these tests true and allows the XBE to continue.

It then attempts to create a socket to an IP address, and stops there - due to non-response.
BTW - fyi IP address 255.64.192.192 is also hardcoded in the vicinity. Maybe this is a gateway, or DNS server.
