I just did this tutorial yesterday and the only fault was in step 8:
8. Put whatever bios you want PBL to load in e:/feenix/bioses and call it xboxrom.bin. I suggest using EvoX D6 NoEject as this should work on all Xboxes.
The directory where the xboxrom.bin is, should be e:/feenix/, NOT e:/feenix/bioses (I'm using phoenix 1.3)
Anyway, I unplugged my box for 12 hours and when I started it, I just got the clock settings screen
Pressed A and eureka, no clock loop
I have a 1.0 xbox with a thompson drive.
People should definiately try these fonts, they work like a charm