The error code you have listed doesn't appear in my database on this pc or my main mac.
There are a few error code resources on the web and you may find this one a little easier to get your head around http://www.appleerrorcodes.com/ try the sad mac codes link which you may find explains the content of the error code and how to read and use it.
In a round about way I'd like to know exactly what the mac shows on the screen without trying to boot from the floppy.
With luck the floppy is working and displaying a sad mac error because of the contents of the floppies system or because the drive is gummed up as you suggested earlier rather than any other hardware fault.
Good luck, someone better skilled should be along soon to help.
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