My PSU went poof recently & I sent it to mfg and they sent me a upgraded, repaired unit back.(PCP&C)
Before I sent the PSU in, the PC wouldn't boot. The on board Pwr,rst, & clr cmos lights would all flash on the board. Asus said this was caused by "dirty" power coming from the PSU.
Well now I have my PSU back. I hooked up ONLY the mobo and all lights appeared fine and the LCD poster read CPU Int... things were looking good. I went ahead and hooked up the rest of the system. Well, to my dismay, when the system was powered on the system goes into crazy mode. Crazy mode being every voltage light on the board and GPU's were lit up(green orange & red) all the system fans were running at full throttle along with my GPU fans. All of my fans were set to Off on my fan controllers too :-(
So I did some looking around and it seems to be a toss up between a short and a blown mobo.
I have taken the mobo out and placed it on my wonderful cardboard test bed. With only the power connected to the mobo, all of the boards voltage lights light up(red,orange,green).
I have done this with and without the cpu, so it is looking like either the mobo or psu. The people at Asus tell me its the PSU, mobo is fine. People at PCP&C say the board is dead...
Well, when the psu originally blew it very easily could have fried the motherboard. Since you have a new psu, my guess would be a bad motherboard. But it could be bad ram or a bad video card or even a bad cpu. Only way to know is to test them in another system. Once you confirm the motherboard is faulty, then you can get an RMA.