I had a bootloop the other night, and finally found a method of getting into Clockwork that worked for me on CM7. Wish I could give credit, but it was late, and I just can't remember where I read this. What to do is get into stock recovery using the power/volume down, then wipe data. Reboot, and when Android start screen shows up ("touch here to begin") you can then use the power button to reboot into recovery like normal.
This saved me the other night,none of the old methods worked, and I did NOT want to sbf again, and I had a recent nandroid to make things all good again. Really wish I could say where I got this, but for the record, it wasn't me, and it works.