I like the idea of an OpenBoot to compliant BIOS that boots quickly. But I must insist on a full un-abridged POST sequence! I currently run the slow RAM test because I have had some problems with it in the past.
As for the P2 bootup problems, I am almost certain the problem is that you aren't switching on the L2 cache. Get the free intel manuals for more info. =) (It's probably a matter of setting some funky bit somewhere)