I have a T5740 where I can get to the prompt with nanoboot, but it doesn't show on the assistant.
Looking at the log it looks like it got an IP address that is not in my network (i.e. clearly not from my DHCP server).
I have no clue about the needed OS password so I can't move ahead troubleshooting.
I wonder if the installed 2GB disk on module might be a source of problems.