Is my board defective?

I build my computer 2 days ago it worked fine for an 1 or so after that turned itself off then it would turn on and off, when it turned on it would not give video the leds on it 80% of the time are not on and the Dr. Debug is not on 95% when it is on it works but again once in a blue moon, I took it out of the case sometimes the LEDS would be on but no video sometimes it would work and sometimes it doesn't. Few Minutes ago it worked I left for 15 minutes now it doesn't.

So is it defective? Should I RMA?

Specs:
i5-3570k
Asrock Z77 Extreme4
Corsair Vengeance 8GB 1600
Corsiar TX650v2
HAF X
OCZ Vertex 4 64 GB
Western Digital 500GB Blue Caviar