An update to the solution list provided by jaquith. I called ASUS support with my case number for this issue. The rep indicated that if they send a new board out it will have the same issue (catch 22 - old bios no support for FX chips). Therefore the rep stated that he would send out a "bios chip" with the latest bios. The bios chip on the 990fx is in a socket and I did see it is removable. He said he would send this replacement chip out to me to replace the "old bios" chip
So when I receive this, I will let you know how it works. I asked the rep if this does not work, what is the recourse. He said I will then have to RMA the entire board. If this new bios chip fix works that is much easier than sending in the whole board and ASUS is not going to charge me for the chip. Here is a link to this chip on the ASUS estore site.
http://us.estore.asus.com/index.php?l=product_detail&p=3890
Choose Sabertooth 990x before checkout.
The chip itself is $15 about the same as a large pizza price at PJhns. I have tried everything I believe from swapping out power supplies, breadboarding, buying Sempron chip to update bios, etc. None of these methods worked. To end it all I even have another AM3+ board on the way from Gigabyte to test the CPUs out.
ASUS is willing to help out but why did they include such a flaky bios update method and not get all the boards they have up to date with the latest bios. AMD delayed the release of FX for some time and this board was around before the FX.
Hope SHr1Kes is able to get the system up and running. I will check back with results from the bios chip upgrade.