my iphone 4 wont go past an itunes logo after i updated software and its asking me to restore to factory settings what do i do?

It's in recovery mode. Anything that was on the phone is already gone. The only thing you can do is restore it. If you didn't have a backup, then the information is gone. Apps and music can be re-downloaded using the same Apple ID used to purchase them at no charge.

I'm also in recovery mode but i can't restore it, it always finds errros like 2001, 2006 etc. What shoud I do??? I'm absolutely lost

See this document for information on troubleshooting specific restore errors: http://support.apple.com/kb/ts3694