It's an early Intel era, with dual quadcore Xeons (May 08). Not sure what's up with it.
I also encountered a really strange error after rebooting from the windows error screen.
I've recently inserted two additional hard drives -- reorganized some data, changed time machine to back-up to one of the new drives, deleted the old back-ups and renamed ALL the drives.
When I held 'option' during my reboot (after getting the stuck on the 'insert bootable disk and press any key' error screen), I was given the option to boot to Mac OS, Repair Drive, or 'Video1' which was the name of a drive i had my previous time machine set up on. It didn't see either the windows partion or the USBs.
The Video 1 drive still displayed a Time Machine logo. The really strange part here is that I had already deleted all the time machine files on that drive, and renamed it. I'm not sure why the Mac see's this drive under it's OLD name, or where it is still see/hiding any TM backup files. All the backups.db folders are gone... (i think) and the drive has certainly been renamed. Not sure why the 'option' key function lists this as a bootable disk, as it's never had any OS files on it and the time machine data has been wiped.
Just out of curiosity, I selected to boot from it. Nothing ever loaded, and I ended up just restarting and booting to the proper Mac drive. Ever heard of anything like that?
Also, do your machines run Leopard, SL, or Lion? I'm on Lion 10.7.2.