Please also refer to my post in RE:Win2K CF Imaging Success . . . . and how you can do it! 
I have done some more snooping around at the contents of the CF images in an attempt to get one that works...
I decided to start looking at the format of the drive. I started up some computer forensics software I own and looked at my CF in physical form. I saw that it had an MBR on it and thought that perhaps this was causing the problem sinze the Audrey image wasn't starting at offset 00 but rather after the MBR. I wiped the CF with "00". When that was done I then went through the mkcf and ntrw process again. I looked at the contents of the CF on the physical level and confirmed that the image had been transfered over to the CF starting at offset 00
Can anyone else look at the physical image of a working CF and let me know if the audrey image should start at offset 00?
I tried inserting this into the Audrey and booting from the CF using the Datebook key and it still says invalid image. Does it check a checksum or something to determine if the image is valid or not?
I see that the entire image gets written out to the CF. I see that towards the end of the CF the bytes "AJOK" (in Hex the full non-null section is "FC 00 00 00 00 00 41 4A 4F 4B CB 07 40 2B" is written at the end. This doesn't appear in the "updatewithshellplus.cf" file but is padded onto the audrey.cf file I make using mkcf file. What is this?
Thanks
Bikeswine