ASUS Sabertooth CPU_LED/No Post/No Boot

Hi everyone, I have a new build I was just putting together and as I got the last of the build together & plugging in the power a few things did not go as they should have.

PC :
Case - HAF 932 Coolermaster
PSU - 850 watt Antec quattro tru power
Hard drive - seagate barracuda 500GB 7200 rpm
DVD Drive - ASUS Basic
Motherboard - ASUS Sabertooth x58 P67 Motherboard with Thermal armor
CPU - Intel Core I5 2500K
GPU - GTX 560 EVGA
RAM - G SKill Ripjaws 4gb x 2
Operating system ( Cannot use until below problem is fixed) - Windows 7 Pro 64 bit

Im using stock CPU cooler. The main concern is the MOBO/CPU.

#1 - I plugged the power into the PSU & flicked the switch to on and next got the DVI into the new video card slot I turned on the computer, at first I had nothing and about 6 seconds later it came on, but nothing on the screen just black, Nothing else is plugged in other than power and a monitor cable, the lights on the case come on along with the fans inside the computer, I'm not sure what the issue is here but it could partain to the second problem below. Just to say I get no post, and just a solid black screen with a yellow light on my acer monitor.

#2 - As stated in the first problem once the computer was on I had a red LED which from the ASUS manual names it as a " CPU_LED " which means something is clearly not working with the CPU or the Motherboard, I've checked the 24 pin power and the 8 pin to the Motherboard, both are solidly connected but to no avail I get zero post or boot. I have reset/placed the processor in multiple times to make sure it is seated properly but nothing changes. I have taken out ram and unplugged the graphics card but again nothing.

I know this is alot of text to read but anyones help/concern would be greatly appreciated by me.

Thanks

Shane.