asus GTX 770 directcu II 2GB OC not recognized by motherboard

What PSU are you using?
Did you plug the power plug into the graphics card?
What motherboard do you have?

Have you tried the drivers directly from the Nvidia website as well as from the Asus website?
When you said you instaled the bios what did you mean? If you did a motherboard bios update you might need to reinstall windows again. I came across a similar problem after someone did a bios update and a clean install of windows fixed it.
You could also try the card in your brothers pc to see if it works.
The GTX770 is an awesome card and we'll try to sort the problem out so try not to get too depressed

One last effort would be to run driver sweeper to get rid of any of the old drivers from your old card and then reinstall the drivers again.
http://www.guru3d.com/content_page/guru3d_driver_sweeper.html

I hope you get gaming on a Nvidia 770 soon It is an awesome card and i'm sure you will enjoy it when you get the chance

Had this problem with my ASUS GTX 770 This is how we solved it. Put the Video card in my friends computer, downloaded the latest Video Card BIOS from ASUS and updated my card. After I did that it booted in my system the first time.

Yes it will be fine with your current system but your CPU might hold it back in some games. You didn't put the speed of your CPU so i don't know how much it will hold it back. When you do upgrade to a newer CPU you will probably see a performance boost in games.
The other thing which worried me a bit is your PSU
It's not a very good quality unit and when you do upgrade your system i advise you buy a good quality one. Brands like Seasonic, Antec, XFX and Corsair(not cx series) are all good choices.
The power supply unit is quite often overlooked but it is one of the most important parts of a computer.
I've pasted a portion of a review on your current PSU for you to read

The load testing results for the FSP RAIDER 750W are a total wreck. The voltage regulation on this unit was just horrid in a number of ways. In our load tests, the 12v rail had a peak change of 0.96v and drop way below the ATX12v specification limits. The 5v rail was also trying to break on through on the north side but it did not quite in our load tests. However, when we ran the 80 Plus tests it hit right at the ATX12v specification limit on the high side while the 3.3v rail hit right at the limit on the low side. Overall, this unit really had voltage regulation that was about as stable as quick sand. When we looked at the unit’s efficiency things were a bit better as the unit was 83.98% to 89.42% efficient at 120v and 81.37% to 88.39% efficient at 100v. On top of that, it was 81.27%-89.02%-87.20% efficient in the 80 Plus tests making the largest miss on its 80 Plus Bronze rating ~0.73%. Overall, I can’t really think of a 750W unit we have seen in recent times that had this bad of voltage regulation so I don’t have much for you to compare these results too. Just know, that 11.09v on the 12v rail is not inside of the ATX12v specification limits so it is certainly a failure for this unit.

Given the previous results, would it be a surprise if the RAIDER 750W failed the Transient Load Testing portion of testing too? Well, if it is; surprise! During our Transient Load Test the 12v rail had a peak change of ~450mV and the 5v rail had a peak change of ~130mV. The problem with this is the 12v rail dropped to 11.34v under this load and that means that the unit is again out of the ATX12v specification limits. While a ~450mV change is not a value that is leaps and bounds larger than what we have seen from other ~750W units, the problem is the starting voltage when that particular change occurred. All in all, the magnitude is almost in line with other units but the result is out of specification limits so it does not pass this portion of testing either.

This was taken from this website
http://www.hardocp.com/article/2013/01/03/fsp_raider_750w_power_supply_review/1#.UqTXOeKKqUk

I highly recommend the next thing you save up for is a new power supply unit.
When the time comes for a new build all you need to do is post on these forums with your budget and you will get a lot of suggestions on the best build you can get

I hope this helps

Not to my knowledge, I had the exact same issue as you with my rig, couldnt even access the motherboard's BIOS/setup as it wouldn't complete POSTing. I got lucky and had a buddy who's build was compatible so we put it in his system and it booted no problem, Downloaded the bios from ASUS on his PC, it was just an .exe and it updated the videocard then we took it out and put it in mine and everything booted. My mobo is MSI p67a-gd65 my best guess from trolling through forum after forum trying to find a solution is that the Earlier 7xxs BIOS may of had issues with the backwards compatibility of PCI E 3.0 to PCI E 2.0 ... but I dont actually know if that is accurate xDDD

Lucky indeed! just got my GTX770 and worked for about 20min then black screen. Since then PC won't pass the POSTing... The good thing is that I have a video chipset on my mobo so the PC is not completely useless for now as it boots when I remove the GPU. I guess I just need to return the card since I don't have anyone with a Desktop near me.