Same problem, but I made some more tests and an email to ASUS for a bad bios.
The fact.
1° phase:
I got an unlocked XP 2400+ for my A7N8X deluxe with BIOS version 1001G. The system booted regularly, but when I was changing the setting (multiplier or FSB) the system did not boot (even with higher voltages) giving me the message "Warning, the CPU is overspeed". In this situation was still possible to chnage again the setting in the BIOS to boot the computer. But if the changes involve the FSB (for more then few MHz) the system does not boot and, to start again the system, it needs to remove the battery and clear the CMOS.
The bios of my other computer mobo (an older A7V333) is much more advanced because when the setting is incorrect, the system the first time does not boot and turning off and on the power gives the possibility to return to the bios setting without the need to open the case and working on jumping batteries and lilliputian jumper in a forest of cable. I wrote to ASUS to ask the reason of such primitive system to reset the system and I am waiting for an answer.
2° phase:
I upgraded the bios to the 1002 version. This Bios does not recognize an unlocked processor giving to the multiplier the lowest value between the couple of values reffering to the transfer table(e.g. the 2400 works with the value 7x/15x and the selected value is incorrectly 7x instead of 15x). I tested a locked XP 2700+ . It works both with BIOS 1001G as well as 1002. But a minimal FSB increase cause the system does not boot with the consequent annoying procedure of clearing the CMOS.
Increasing the multiplier (even if the processor is locked I tried) hang the system with the message "Warning the CPU is....".
As consequence I am not yet able to overclock the A7N8X deluxe. Who was able out there to overclock this board, and which procedure he used ?
Principle of the highest harassment for engineers says: having two events, one bad and one favorable, with the same probability to occur, it is most probable that the bad event will occur