Indeed it is: Core i5-3570K (3.4G,L3:6M,iGPU,4C,77W,rev.E1) ALL 3203
You'll need to install the 3203 or later Bios and yes maybe :)
Yes the red light is an issue, ram has to be in if it's still red went you boot press the memok button to reset if that doesn't help take a stick out.