Okay, I had pretty much gave up trying to fix my phone, but thanks to people here I decided to try again.
Phone is back and working!!!
This is what I did:
1) sbf_flash pudding unlock (4547-fix-try2.sbf)
SBF FLASH 1.24 (mbm)
http://opticaldelusion.org
=== 4547-fix-try2.sbf ===
00: RDL03 0x00000000-0x002FFFFF 8F2A AP
01: RDL01 0x00800000-0x008407FF 377A BP
02: CG02 0x00000010-0x0000580F 4615 AP
03: CG03 0x000000A0-0x0008009F D591 AP
04: CG39 0x00000020-0x0030001F 0D17 AP
05: CG42 0x00000050-0x0030004F FE7C AP
06: CG47 0x00000070-0x0008006F 34C6 AP
!! Reboot phone into bootloader.
Got stuck there. Thus, sbf_flash method with unlock pudding didn't work for me. I prefer to use sbf_flash rather than RSD Lite because I'm a mac user.
Install Parallels Trial version on my mac just to use RSD Lite, since the only options I had on my phone during boot was fastboot and RSD.
Install all the Motorola drivers for Windows, ran RSD Lite 5.4.4 and flash the unlock pudding .sbf file. It worked!!
2) fastboot oem unlock
3) flash boot.img and system.img
Installed the CWM Recovery to access my full backup I had before all this problem. Yes, I had a current backup, and now it all like before.
Thanks all for the help.