Help: Phone does not boot keeps restarting

I will try to keep this post as short as possible. I was using my G1 earlier, I had received a call and once IT ended I started using the Layer Application suddenly it turned off without notice. I hit the power button to turn it back on but it only gets to the T Mobile G1 screen/splash and turns off and keeps restarting by itself.
I can also start it using the camera + on button and takes me to the multi color screen and displays the following information:

DREA100 EVT1 32B
HBOOT-0.95.0000
CPLD-4
RADIO 2.22.19.261

Sep 2 2008

Serial0

When Donut 1.6 came out I manually updated it and had worked perfect since then till today. Is my phone bricked or is this something I can probably revert back to factory settings? I appreciate the help very much!