I am trying to set up a fc7 server on a box that has network connection to other pc's on a LAN but no cd-rom I have the fc7 DVD but I would like to boot the fc server from floppy and install from other pc on network. Is there anyone out there who has done this or similar!!???

Does it have to be a floppy? This is kinda hard these days, as the default kernel and initrd exceeds the default 1.44 MB available on a disk..
Other ways to achieve this way of working:
- Network boot, does your system support PXE Network Booting? You should alter the configuration of the dhcp server and set up a TFTP server which provides the network boot options
- USB stick booting, does your system support booting off a USB stick? This allows bigger kernels and initrd images to be used. This prevents the need to have an (altered) DHCP server and a TFTP server.

On both options, the boot method provides a first step to installing.. on both ways, you'd have to provide a Network access to the install medium (DVD), either through NFS, HTTP or FTP.

If there ARE ways of using a boot floppy which will have you continue booting off some network method, I am not aware of this, sorry (as I stopped using either floppies or physical media since a couple of years now).

Hope this helps... or if not, let me (us?) know..