I just got the motherboard, had it layed out on cardboard with only the RAM, CPU and PSU plugged in. I boot up the computer the CPU fan comes on normal, LEDs light up on the motherboard 2 sets of 4 LEDS after 3 seconds they go out a single RED LED comes on and it boots down than boots back up. Repeating this over and over.
I didnt do a thing to it other than pop the CPU, RAM and PSU in, all connectors are nice and tight.
At this point, you badly need a case speaker... From the 'sticky':
Speaker - Beep Codes
There is only one thing to say about case speakers - get one!! You won't often need it, but when you do need it, it's usually all you have to work with at that point... A lot of people operate under the misapprehension that the 'diagnostic beeps' should come through the speakers attached to their sound-card/chip - not so! Your three hundred dollar Altec-Lansings won't do you any good here - you have to have a case speaker attached to the front panel header!
Award BIOS beep code descriptions:
1 short: System boots successfully
2 short: CMOS setting error
1 long, 1 short: Memory or motherboard error
1 long, 2 short: Monitor or graphics card error
1 long, 3 short: Keyboard error
1 long, 9 short: BIOS ROM error
Continuous long beeps: Graphics card not inserted properly