Finally able to flash the Arduino bootloader it to fresh Atmega1284P via my version of ISP programmer. ISP programmer includes and Atmega328P and FTDI board for serial communication between PC and the Atmega328P. Armega328 is loaded with ArduinoISP sketch.
This works with Arduino 1.0.1(old version that i use for test) IDE and still testing for Arduino 1.5(i have upgraded to). Once the following files installed to the Arduino Hardware folder (https://github.com/maniacbug/mighty-1284p/zipball/master) please mind to restart the application. After restart you will see from the hardware list as Original Mighty 1284p 16 and 8MHz.
Select the hardware, port and the programmer as Arduino ISP and burn the bootloader. This process takes quite sometime and after its loaded, do a test by loading blink sketch. Use upload using programmer button to upload the sketch.
Blink sketch on test.. cool it works for me.
I am trying to workout this method in version 1.5 too, as soon as it works i will post it. :) enjoy programming Atmega1284P.