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I got the issue resolved. I was using Virtual Box and was using a SATA hard drive instead of IDE. Once I change the Harddisk to IDE, the OS Installed fine, now I have windows 8 and Mac OS X on the same box. Awesome.

I am having the same problem, using iBoot 3 HP Elitebook (i7), with a dock, the dvd drive is on the dock. I have tried it with a snow leopard ISO and same issue. Please help The DVD reads fine and everything.