I've just upgraded from an i5 2500 to an i5 3570k and my computer won't boot with the new CPU installed. It just turns on for 1~ second and then loses power, it repeats the process until I turn the power off. I have refitted the 2500 and it starts up normally, does this mean the new 3570 is faulty?
You probably don't have the proper BIOS revision for the 3570k. Go to ASRock's website, download and install the latest BIOS version for your particular motherboard, and try the 3570k again. If it still isn't working after that, then either the CPU is faulty, or ASRock did not provide the necessary CPU support update for Ivy Bridge on that particular board.
The Z68 Chipset was released when the i3/5/7 was still in the 2*** series. This motherboard is compatible with the i3/5/7 3*** series, however a BIOS update is required (3*** support was added in P2.10).