How did you set that JAVA_HOME ? No need if JBOSS_HOME any way.
Check out your JAVA_HOME entry, it should be something like this
JAVA_HOME=C:\j2sdk1.4.2_04 don't put bin with it.
if you got a console window with out any exception and a it is ending with
"15:17:17,920 INFO [Server]
JBoss (MX MicroKernel) [4.0.0 (build: CVSTag=JBoss_4
_0_0 date=200409200418)] Started in 16s:141ms" message then your server is successfully started.
Now you need to see
http://localhost:8080/jmx-console and
http://localhost:8080/web-console if you are not getting the console windows, then see the server.xml file in the jboss/server/default/deploy/jbossweb-tomcat50.sar directory.
go the http connector port configuration part
<!-- A HTTP/1.1 Connector on port 8080 -->
<Connector port="8080" address="${jboss.bind.address}"
maxThreads="150" minSpareThreads="25" maxSpareThreads="75"
enableLookups="false" redirectPort="8443" acceptCount="100"
connectionTimeout="20000" disableUploadTimeout="true"/>
make sure that http connector port is 8080.
still you are not getting then some other software may be blocking the 8080 port. so please change the port and try.