I have the same problem, i have a A or B revision ..dont know for sure... 16 in the cobra and the error is the same.
Im running the 0.4 bios and also tried the 0.2 and nothing... =(
if i keep trying to boot it works... but after about 20+ tries... and after a qhile the game crashes, the only that doesnt crash is zelda collectors ediction
last night i tried to do the laser tweak , is was 400 and i put it at 195..the result: i can play some game with the 1st boot but other dont work...thats strange because i burned all the games the same way with the same media...
make sure your iso's are on a decent media dvd (i find the ritech die dvd-r are the best) also make sure the dvd is a minus and not a plus gamecubes do not read +dvd format also i had this screen once or twice try cleaning your lazer and the disk
I have tried the fstfix13f.exe and the game boots perfect on the OLDER gamecube but on the NEWER keeps sending that error screen.
I think the problem is the cobra bios. I have found similar modders on www.ps2ownz.com that they are getting the same error screen with Gamecubes NTSC ver 1.2 (cobra says a 48). Unfortunally they banned my IP and I can not longer check the information. (The administrators of ps2ownz.com are assholes... they banned me and I never posted any single message, also you can not post until you have 5 days registered that is stupid...)
i get that errormessage all the time when trying to boot a backup that i've burned on a poor media (DVD-R, don't remember the name). I need to try over and over again to get it to boot, normaly 6-12 times before my backup starts. I got sick of it and burned it on a different media, and now it works like a charm. hope it was usefull info!