Hi scififreak. Welcome to NST.
No, the Windows Vista Anytime Upgrade disk is only for upgrading Vista, not for repairing it. You will need to download and burn to a CD with ImgBurn our recovery disk found here > Windows Vista Recovery Disc Download The NeoSmart Files
Repairing Vista will not delete any files. Rather, it will create its own needed boot files if it detects they do not exist.
Hi duah. Welcome to NST.
Make sure your CD/DVD drive is first in the boot sequence in your BIOS, and verify that you are pressing the key when you get the message "Press any key to boot off the CD".