The BIOS is the newest one they have for this board, my PSU is a 600Watt Rosewill, which from reviews that I have read works well. Also this only happens with this motherboard, when I had the 8800GS on my Abit IP35 Pro I could overclock fine with the same PSU and many more drives and cards.
Specs on comp arehttp://www.newegg.com/Product/Product.aspx?Item=N82E16817182150
Gigabyte GA-EP35-DS3L Motherboard
Pentium Dual-Core E2160 CPU
4GB Super Talent 667MHz RAM (4x1)
LiteOn LH-20A1P DVD-RW
80GB Seagate IDE HDD