BIOS Issue, unable to boot

I've got an Asus M2N32-SLi Premium motherboard (has the Phoenix - AwardBIOS on it) that I've had for approximately two years and I started having a specific issue with it out of the blue. Since this morning, every time I turn on my computer, the system POST's fine, but doesn't load the boot.ini from my C drive. As of today all that comes up is a blinking cursor on the top left of my screen. I've tried booting from a flash drive and a CD, without any luck.

I tried resetting my CMOS, hoping that it was a simple error, but no luck. After resetting my CMOS, I tred to load an OC profile to load the settings that I had saved there a while back, which I have also used several times before. This time, though, it said that the profile didn't exist, which is odd because it saves the profiles to the BIOS itself and I've used it post-clearing the CMOS before. This is what has me thinking it's an issue with a corrupted BIOS.

So I figured I should be able to just flash the BIOS using the onboard "ASUS EZ Flash 2" utility. I loaded up my flash drive with the same BIOS version that I've currently got installed (version 1202) and went about trying to reinstall it. I ran the utility, I told it to flash the BIOS off my flash drive and 6 bars in of deleting the old BIOS, it froze. I let it sit for an hour before I decided to try my luck again... same exact issue the second time. Still can't get to an OS select screen.

I'm thinking I'm running out of options, but does anyone have any other suggestions?

The rest of my specs:
AMD Athlon X2 6400+
XFX GTX260
2x2GB Corsair XMS, DDR2- 800
Kingwin "Absolute Power" 520W modular cable power supply (I know that it's a bit low for my GFX card, but it runs alright)
Seagate 320GB HDD