I have done the CMOS clear, removed the battery, used a different power supply, and yet, it still sits on this blinking red light.
There have been issues with this board. With all that you've done in the way of troubleshooting, it might be time to consider a RMA. If all the components are new you should be covered. "Bad" processors are really not that common, damaged sockets (bent pins) are though, so I'd check them first. Also check for a Mobo short (extra standoffs, junk under or laying on the board etc). Wish you luck.