So you wiped cache/ Davlik and factory reset and then flashed ROM? Try to reflash it a second time and see if any ghosts might be around.
So do this. Blah blah blah 2.1, root, OR>wipe cache/ Dalvik>reset> flash CM7>wipe Cache/Dalvik rest again and see if it bootloops. If so then go back into OR and reflash CM7 (essentially flashing it overtop of itself).