Are you sure that the PSU is doing good?
To me your problem sounds like capacitor damage on the first hunch.
However,
Is your setup a custom build, or built on top of a complete system?
Whats your PSU?
Do you have any spares for testing?
@SnOwBunZz:
I have yet in my life to see a BIOS that correctly adheres to POST sound-code "standards".
