Iphone stuck in a rebooting loop

[Jetphuel]

I have a problem with my iphone, I have been able to update to 1.1.4 and unlock/jailbreak with ziphone, but it is stuck in a rebooting loop. I have tried downgrading to 1.1.1 with an older version of itunes 7.4.3 and it seems to have gotten worse. Is there something else I can try? Can I replace the bootloader with some other tool besides ziphone (I have read that ziphone may be the cause of the rebooting). Does this sound like a hardware issue? Thanks.

[Poseidon79]

restore back to 1.1.4 and re-jailbreak with iLiberty... then set the phone up as NEW in iTunes.

[Jetphuel]

Does it matter what version of Itunes I use to do this? I understand that the 7.6 version has some modified dll's that may contribute to the problem I am having.