@azherr:
I've got an Firebox 500, f2064n along with a CF reader and a 4gb card with the nano image on it.
I have tried to boot the box off this card, however the boot process never gets past the LILO boot stage.
I run a box like that, too. From memory, I had to fit an old VGA card and keyboard to get into the BIOS and change the disk settings (a one-time thing). This allowed the boot process to take place on the CF card, instead of the internal flash. I went with a 2GB card, instead.
Good luck.