Thanks for the quick reply We're gonna try a 1000w supply tomorrow and I'll post back to see if that's the issue.
To answer your comment though on how I got the processor, I would like to say I know people but I don't
Seems like it was a mistake by the sales associate. The store I bought it at, memory express here in Edmonton, Alberta, has the processor listed as "Preorder". I went in asking for a 2500k and he said they were sold out. I didn't really think of a back up processor incase that one was sold out. I asked him for something comparable to which he replied "I just got in the new ivy bridge processors" I was like "Alright, how much?". To be honest I didn't really know much about it, let alone that it wasn't supposed to be sold yet. He said it was 40$ more than the processor we wanted so my buddy bought it.
When I had the problem I immediately went here to post about it, and then when you commented on "How the heck" I immediately drove back to his house to verify that I was talking about the right processor. Sure enough it was, so just seems like the guy at the store didn't know it wasn't to be released yet. :X