If you have access to the xell(ous) screen you can pull it back, if not then yeah you would be reflashing the NAND.
What "dashboard" was the system at before you tried to install dashlaunch? if it was too early then this could well happen. Likewise there have been a couple of revisions of the newest freeboot/fbbuild (fbBuild 0.11) and corresponding updates to dashlaunch so there might have been some issues there.
Before we get to that though it might just be an error in the dashlaunch config file which is now unfortunately buried in the NAND, fortunately the USB and hard drive have priority over the flash so try sticking a config file (the stock one bundled with the installer should do it) one a USB drive. This should allow you to get to the dashboard and open up the NAND (xexmenu FTP has a nand option- rather than xbox for the username and password use flash for both of them.
If it works great you ignore the rest of the post but if not we are probably building a new dashboard and flashing that- xellous has a nice NAND flashing option which you can use. It should also have NAND dumping abilities and key grabbing abilities (you do not FTP into it but load it up in a web browser just by typing your xbox IP address).
Once you have a dump and the keys you can pull it apart for the required files from your 360 to build a new freeboot and flash it.
360 Flash Dump Tool is the tool of choice here.
http://www.xbox-scene.com/xbox360-tools/360FlashDumpTool.php has downloads.
Add your keys to it (settings pulldown menu)
In the options section (again in the settings pulldown menu) select extract ibuild compatible files.
Load your NAND image (the right hand side of the screen should make some sense), press extract and select all you can bar raw file system, wherever you extract it to you should get
crl.bin
crl.bin.meta
extended.bin
extended.bin.meta
kv.bin
odd.bin
odd.bin.meta
secdata.bin
secdata.bin.meta
smc.bin
smc_config.bin
These are the files that fbbuild wants to make a new NAND image, build it following the NFO
http://www.xbins.org/nfo.php?file=xboxnfo1883.nfo (
http://gbatemp.net/index.php?showtopic=264...t=0&start=0 is a bit older but should also help_ and you can get on with restoring your system.
http://www.xbins.org/nfo.php?file=xboxnfo1782.nfo has more on how to flash it but long story short the new NAND image fbbuild makes rename it to "updflash.bin" and stick it on the root of a USB drive, upon booting xellous it will allow you to flash the 360. You should now have a nice restored 360.
Good news- if you managed to follow along with this you have done about the hardest thing most 360 hackers get to do.
If not there are other options with regards to premade images although they are not ideal. Still
http://www.xboxhacker.org/index.php?topic=15694.0
Post back if it comes to it but hopefully it will not.