So I have an Asus Sabertooth X58 board, an i7-950 Bloomfield 3.06 quad, an ATI 5850, corsair TX750W power supply, and 6 gigs of DDR3 G-Skill 1600 RAM. So here's how the problem started. I put everything together according to the manual and booted for the first time to a successful BIOS. I then select to boot from one of my Hard drives which I'm running W7 64 bit on. The hard drive decides it should restart the computer, so the computer restarts and I suddenly can't get back to BIOS. When I cracked open my case the little LED for CPU problem was on. So I assumed the CPU had simply just been a dud so I RMA'd it for a new one. New CPU came in I seat it and now I'm having the same problem as before. Also the light for the memory being bad came on as well... I have no idea what the problem could possibly be. Any help would be appreciated. I also don't have a case speaker so I can't actually tell you what the beeps are.
I would first reset the bios if you havent already. Some motherboards have a jumper that will do this, otherwise, unplug the computer, take out the CMOS battery, then hold down the power button for 10-20 seconds to discharge the board. Then try it again. If you are still getting errors, try removing everything except for the cpu, video card, and 1 stick of ram to see if it will post without errors. Can then try swapping out ram 1 at a time in each of the memory slots. If that still is giving errors with the memory and cpu, I would have to think it is the system board, especially where you have already replaced the cpu.
A few other things to check: Make sure the CPU cooler is firmly attached at all 4 points and be sure all power connections on the motherboard are connected.