I was never able to access stock recovery in the way that everyone else has claimed (power & back during boot). That only got me an Android with an exclamation mark that forced me to do a hard reset.
I was able to access stock recovery by choosing Upgrade within Settings, then choosing SDCard, and then hitting Back when faced with the inevitable Android/exclamation mark.
In the end I had to replace it using ADB. Once CWM was on there, the rest went exactly according to your instructions.
I know a person who could use stock recovery on COBY 7022.
did you hold BACK when recovery menu is displayed?
I have EM73 and stock recovery may be different than COBY's, but I need to hold BACK until menu is displayed.
if I released BACK before ! mark is displayed, then it stopped at ! mark.