OK, it's all good now. I'm not too big to admit that I might have been trying the incorrect 2nd password (sorry....day off work, a few glasses of red.....you know how it goes....). But taking all that into account, it was STILL a bit of a struggle.
For anyone else reading this having the same issue, here is a quick guide:
For the intial RAR, the newer password "fanedit.org" does NOT work at all. Go for "fanedited.com". I did this and it seems to have worked.....which then produced ANOTHER zipped RAR.......so I extracted this one with the newer password "fanedit.org". The other password did not work at all.
So, basically, you extract a RAR from a RAR with 2 different passwords.
This then, finally, gave me an ISO which works great.
Neglify: thanks for your help. I'd love to talk more about how the uploader "sucks balls", but it might violate some of the forums etiquette rules.
Cheers mate.