I was able to finally fix it in the following manner... My problem was actually twofold, the first was the wifi connection from the iphone to my router and the second was a runaway process that was slipping my notice in the syslog. Once I realized that it was a server and not a script as I had assumed, I simply reset everything and begun the setup process from scratch. I restarted my router from the admin page which forced all my devices to renew their dhcp ip's. Updated and renewed the iphone as well. Then I went to my console and saw that i had a runaway process caused by old USB device driver...I am pretty sure that was what had the video port confused. I killed the process and turned off the driver in system preferences.

Finally I opened RB preferences. Turned off the ajax server, unchecked everything and turned it back on. Making sure that was working, I then went ahead turned it off again and checked the video preference, turned it back on and it opened up without any issue! So I think it was obviously the USB driver with the runaway process that was looking for the device which was not attached to the machine coupled with the random spotty dhcp issue. Problem solved.

I must say I love this product so much, it really is quite amazing! Thanks for your time and help!