I cannot log on to an SBS 2003 server after a Full restore/recovery - "Windows Product Activation" error? I've modified the registry per Microsoft Article: 312295, but, still cannot access?

Performed a Full Restore/Recovery from disk after "unknown:" system server failure? Was not able to Repair the O/S as suggested, so had to reinstall SBS 2003 on existing "C: partition"; Restored the "Full Backup" from disk (E: partiton on same server), then, re-booted to "Directory Services Restore Mode" to restore "System State". All was fine, until after the login; received the "Do you want to Activate Windows" prompt with choices of: "Yes, No, or Cancel". I chose to "Yes" to Activate over the Internet, but, it just "Hangs" forever and will not allow further access? I also rebooted several times choosig No or Cancel without any success either? Note: I did modify the registry setting per Microsoft Article: 312295, but, even after rebooting I'm still experinceing the same "Windows Activation" Error/Problem?
 
Hardware: HP DL145g2 (w/Two AMD 1.8Ghz DC Proc.), 4Gb RAM, HP 4/8 SATA/SAS Raid Controller (RAID 1), Two Seagate 500Gb SATA HDD (Jumpered down to only run at 1.5Ghz for HP Controller.) Microsoft SBS 2003 R2 Premium w/15 CALs, running Exchange Server; This is the PDC for the entire network of 10 users - have 2 other MS 2003 Member servers that are application specific.

Needless to say, we are not functioning today and I need assistance to resolve the issue.
Thanks,
ECSI06