Your machine is dying probing things after the initial PCI scan - the
1039:4107 is a PCI device Linux doesnt recognize and will thus ignore.
Your machine is I suspect dying because the interrupt handling or memory mapping
are non standard. Probably the latter - this could be due to non standard
timer chips or other components.
There is a tiny chance it is the PCI scan - perhaps a bug in the PCI bios.
Get a kernel image with no PCI from someone and try that. That'll still boot
a fairly functional system. If it works then there are patches to fix some
compaq PCI bugs on www.linuxhq.com - pray yours are the same.