Help: New Computer Won't POST

[eliwide]

I just put together a new computer, and when I switch the power on, the system fans start (but not the CPU Fan), and then it powers off after about 2 seconds, after about another 2 seconds it powers back on, and then off again, and keep repeating.

My system is:

Motherboard: Gigabyte DS3
CPU: Intel E6600
PSU: Raidmax Volcano 650W
Heatsink/Fan (CPU Fan): Zalman 9500
Video Card: EVGA 7600GT
Memory: OCZ Gold Series (rated at 1.8V)
Case: ASUS Vento 3600

I have attempted the following:

1. Disconnected all wires, and then reconnected them (including 4-pin power supply).
2. Disconnected each of the following items at a time, but made no difference - graphics card, hard drive, DVD, USB connections, audio connectors
3. Tried the PSU in another computer system and it works without any problems
4. Taken the CPU out. While holding the heatsink, I powered on and the CPU fan now powers up and the power is constant.

Before I attempt to reseat the CPU and apply some more AS5, I would like to get people input? Personally the CPU wasn't seated correctly, or is just kaput.

Thank you for any help

 

[eliwide]

Unfortunately I have no other memory... However, I can leave the memory in and the system will power on and stay on if the CPU is not present... As soon as I install the CPU it starts powering on and off... Do you still thing it could be the memory?

 

[eliwide]

I just reseated the CPU, applied some more AS5 and attached the heatsink and still it is powering on and off... I am going to Frys right now to get a cheap processor and see if anything works with that... if not then it looks like I will send back the motherboard..