It appears i have found a fix for my PS3 issue, i had a look around the forums and found a topic someone made that had a similar issue to me and it said something about the PS3 NAND being corrupt. So i decided to try out another method to sort out my PS3's issue.
1 - I decided to format my PS3s hard drive on my main PAL 60GB PS3
2 - I placed it back into my US 60GB PS3 and it didn't boot up which was expected. But it allowed me to boot up into recovery mode.
3 - I then placed the firmware 3.50 onto a USB flash drive and used the Recovery Menu to update it to 3.50
4 - Allow the firmware 3.50 to install. This will allow me to attempt to Downgrade again.
5 - One thing that made me laugh with this update is that it showed me the Removal Of Other OS page which surprised me a bit.
6 - Went through all the installation menus and options and now my PS3 is back up and running.
I have also noticed, my PS3 refuses to downgrade again. I just tried it and it was flashing green again and wouldn't turn on. But luckily it allowed me to install 3.50 again.