It is generally better to have the PC terminal up before booting the switch. Usually the switch does not care about baud rate and YMMV but 9600 is safer if you need to XMODEM updates to it. Set it to 9600,N,8,1 VT100 and you should be good to go. You may need to hit [enter] a few times for the switch to sync up the baud rate.
I have several different models of Procurve switches and some of them do OK with no handshake while others seem to want hardware handshake.
HTH