No, you are not hung up on the fastboot thing.. that is only in Sense based ROMs, it is a mode that when a reset or power off occurs, the device doesn't REALLY power off or cycle all the way off, it is a way of getting the device to boot faster, nothing more, if your ROM doesn't have the option to turn it on/off, then it doesn't have "fastboot". Do NOT confuse this with Fastboot in the bootloader/hboot, two completely different things and that fastboot is an absolute requirement to work, plus that one can't be disabled to my knowledge.
Did you read the rumrunner thread here? It is common for the device to become unusable after S-OFF at first, the boot image or ROM can become corrupt, it is best to start out with a clean device, only the ROM installed, no user data or anything else, do a a nandroid, do rumrunner, then it is often "broken" and you have to reflash the ROM or restore the nandroid. Many people report rumrunner hangs, but if you reboot and hboot says "S-OFF" your done, there is no partial S-OFF, it worked, just restore/reflash ROM.