The vanilla boot CD (detailed in the first post) successfully booted in another computer.
I was able to boot the computer (the one in the first post) from an OS CD (XP Pro, SP2) in the same drive.
The CD was burned using a different drive than is now trying to boot the CD.
I did have a device that was a secondary IDE master. It was easily disconnected and I changed the jumper to make the CD drive in question the secondary IDE master. Attempting a boot from the Ghost CD resulted in the same message - "Boot failure". Just to make sure, I booted the XP CD again and, again, it worked.
In case this might apply, my device setup is:
Primary IDE Masater Hard Drive
Prim IDE Slave Hard Drive
2ndary IDE Master ATAPI CDROM (the drive in question)
2ndary IDE Slave None
3rd IDE Master Hard Drive
3rd IDE Slave None
Mode of 3rd Channel [IDE/Level]
The boot priority is: 1st ATAPI CDROM, 2nd Remoable Device, 3rd Hard Drive
Thanks for your help troubleshooting this.