Did you make any hardware changes to your system? Was it dropped, kicked, smashed, or otherwise exposed to physical harm? Does it make unusual beeping sounds anytime during the process?
When you hit the F8 key and it brings up the startup options screen, instead of selecting safe mode, select "Disable Automatic Reboot On System Failure". This should allow you to boot up into Windows and run any utilities that you may have.
If this doesn't work, and you're not intimidated by the inside of a computer, I'd suggest opening the case, checking that nothing is knocked out of place, checking that the case is properly grounded, and then retrying.
Be sure to let us know when and how the problem is resolved.
-Sceptre
EDIT: If the above doesn't help any, and you can get into Safe Mode with command prompt, you can run system restore throught he command prompt. Just boot into it and run the following command:
%systemroot%\system32\restore\rstrui.exe