Alternatively, you can start your SME box with the boot floppy you made when you installed ... you did make one, right? If you didn't, just run the install CD on another box & make the floppy. Once you've booted the machine, assuming it boots, you can fsck your partition and/or use LILO to fix the boot problem.
If it never does boot, you're probably going to have to embark on the grand adventure of building up another Linux/SME install on another hard drive & trying to mount the old drive to get at the data.
Or you might try booting the machine with a Knoppix Linux CD and seeing if you can mount the hard drive that way. You might even get lucky and be able to transfer your files across your network if Knoppix recognizes your NIC.
One more method would be to use Norton Ghost or the "Ghost for Unix" project (
http://rfhs8012.fh-regensburg.de/~feyrer/g4u/) to copy the affected drive to another hard drive (so if it doesn't work, you haven't made matters worse), then rerun your install CD as an upgrade or do an upgrade-in-place to a later version, the idea being that the upgrade process may fix the problem.
Good luck!