Issue with CF freezing my MPC... HELP PLEASE!

I just received my mpc1000 that I purchased on eBay and trying to figure out if I got ripped off.
Anyhow I bought a Sandisk "Ultra II" 1GB compact flash card to test some of the functions and that's where the trouble began.
So far, when I insert the CF card it has been freezing up my mpc pretty much when I try to do anything. It allows me to go to the load screen, but from there it freezes. When I eject the card the mpc functions again.
I'm not sure which os I'm running when I start it up the lcd says "new os" and below that "version 4.59". I've attempted to reset to factory presets by holding the erase button and turning it on, but that seems to do nothing. I can't find the factory demo that is mentioned in the manual.
So these are my current issues. I am very grateful for any assistance.

Also for clarification I have been unable to format the CF card due to the freeze up and I have been unable to mount my mpc to my mac.

And one more thing I just noticed, when going into save mode my mpc asks me for a password. What's that all about? I don't have a password, can I reset it?

Sounds like you've got two problems: 1st -- Defective flash card or defective flash drive (check to see if any of the pins are bent or if the drive socket is otherwise broken). 2nd -- You have an unregistered (and out of date) copy of the JJOS. If you want to download the earlier free version or purchase a password for the latest version, see

http://www7a.biglobe.ne.jp/%7Empc1000/

...but of course you'll have to get the flash drive working before you can do that.

yeah, I just looked inside the CF card slot and it looks like 3 or 4 of the pins are bent.
Is there an affordable way to repair this issue?

Affordable? Jeweler's pliers.

vstservice and/or mpcstuff sell replacements.. maybe somebody else on here has a third party source I'm not sure about that...