I have just had this exact problem and lots of googling searching brought me to this unresolved post which i thought should get some closure.
I had this issue, and no amount of OS repair, factory resetting, wiping, using JL_Commander, BBSAK or BBDM features would recover my Torch 9860 until I came across this thread;
I believe the difference with this all in one script is the small exe that actually formats the device sector by sector - it even wipes any stored pins from the device - thoroughly cleaning the ram out rather than just deleting apps and re-stamping the OS.
I used options 2,3,4 and 6 as I could not lcoate the nal.exe file for the 9860, and after using this program, I then re-installed my OS to the phone using the loader.exe, but I am sure at this point, the BBDM repair options would have worked aswell. You probably only need options 2,3 and 4 really as the OS load can be done with loader.exe or BBDM
After a succesful rebuild, the phone takes a long time to boot (about 10 minutes - no joke) but it does eventually boot (you do see the white bar move V E R Y S L O W L Y after where it normally gets stuck)
Hope it helps some others out with the same issue.