Sounds a bit to me like your PSU is too low on power or faulty.
As a test I would go to your bios and let it hang there. If it starts to faulter it is probably either the PSU or mobo. If you heard grinding there is only a few moving parts in your rig. Fans, Powersupply Fan, Processor fan and Hard drive.
You will only hear the hard drive grinding when booting into windows, not the bios.
The mobo saying press F1 for settings etc is a natural reaction to a crash/power failure, not neccesarily to do with the battery
edit: Are you sure you see a yellow light, your manual states a green led only?