Ok so a little update on this, the issues seemed to be resolved. I did not change a thing except I decided to comment out all the network active settings from wp-config, nd update my installation. I only did this after seeing an upgrade caught in an infinite loop. Never read anywhere that would happen, just figured that was a good place to start.
After I did the upgrade I went in and dropped the tables that had to do with the MU Domain mapping, and then activated once again. Evidently I really didn't drop all the tables because the IP address I entered earlier was still there, as well as the mapped domain names I attempted before. Went to the browser and directed to the URL I wanted mapped and everything is good to go. Not sure if it was the upgrade for the nightly build from the last couple days, or it was dropping, and letting it start over. So all is good, and totally looking forward to WP 3.0