I am scheduled to receive MB and CPU in a few days time.
I have my fingers crossed that the BIOS will support the processor out of the box. The Asus site says the BIOS update (version 3202) to support this particular CPU was released in February, 2012.
Hopefully I am not getting stock from before that date.
The reason I believe that it will be ready for Ivy Bridge is because of the Rev.3, That makes it compatible with the PCI Express 3.0 latest GPU's, Which were released with the Ivy Bridge processors, So naturally it would have to have the latest bios updates. I believe it will be fine right out of the box.