Ok I've just spent the last 2 hours getting my new Phenom II 720 BE to work on my M2N32 SLI Deluxe, here's my findings.
BIOS 2205 does NOT work.
I managed to post my PC under 2205 (after hard reset the CMOS data with jumper), in fact, 2205 recognized the new 720 BE CPU, however after I setup all the settings, saved it and reboot, my PC just doesn't POST.
I've to reset the CMOS again to make my PC to post again, but everytime I reboot it won't post until I reset CMOS memory.
So after 10 tries, I've rolled back to BIOS 2101 and while the cpu is not recognized, it worked. I can save my data and reboot properly.
The default vCore voltage is set to 1.36v if you use the "Auto" setting, and the CPU runs really hot (55-60C) I've to manually set the vCore down to 1.30v to run it slightly cooler.
I've managed to run it @ 3200 Mhz (200 with 16x multiplier) @ 1.30v.
I hope this info helps whoever want to run a Phenom II x3 720 BE on a M2N32 SLI Deluxe.
p.s. since BIOS 2205 recognized the 720 CPU, I strongly believe the next BIOS release will properly support the new AM2+/AM3 Phenom CPUs.