johntsmith61 :
Thanks for the info - since I'm obviously not too smart - how do you update a BIOS on a MB that won't POST or even power up?
Yes, this is the crux of your problem. I know ASUS boards have a very nifty feature that allows them to have their BIOS 'flashed' from a memory stick. All you need is ATX standby power (no CPU/Memory/GPU needed). You simply hookup a memory stick loaded with the properly-named BIOS file for the board, and push a button.
The Biostar board that you have, unfortunately doesn't have this feature. Your solutions now include:
a) returning the board, and getting a Z77 Express chipset board instead
b) returning the processor, and getting a Sandy Bridge processor (Gen 2) instead
c) taking the board to a local repair shop or a friend, and having them boot with a Sandy Bridge processor and update the BIOS for you