I believe you need to RMA the original drive. The "Replacement Image" is on a separate partition and is restored by pressing "F" (I think) as the box boots up.
Other than that, since there are no external drive bays (floppies or CDROM)how are you going to boot the WIN2K Server CD?
I 'spose you could pre-load the drive on another machine (with a directory representing the W2K CD), then install the drive into the IPTV box, boot it, then let the drivers re-adjust to the hardware.
Once W2K server is up, the code can be downloaded from CCO for the IPTV stuff (assuming you have a contract / paid for it).
The Content Manager needs an activation key, I don't think the BC servers do...but unless you can bring up a CM, just having the files/streams on the BC servers won't do you much good.
Good Luck
Scott