Based on this configuration:
New CPU installed and thermal paste applied properly. Works 100% with old CPU. Socket not damaged.
BIOS updated to latest version and version number absolutely 100% confirmed to be F20
Motherboard installed and all essential power connectors wired up (8pin, 24pin)
All other devices like drivers and PCI or PCIe cards removed. All fans disconnected except CPU_FAN
Won't boot on 1 stick of RAM but will boot on 1 stick if the old CPU is installed
If you've done all that by now and the system will not boot then I think there is an issue with the 3930k CPU. It should work with your system if the BIOS is the latest version. It is proven to work with that motherboard with benchmarks on userbenchmark.
http://www.userbenchmark.com/UserRun/6149867
Either the CPU is defective or there is an installation issue somewhere. Maybe downgrading to BIOS version F16 would help if it lets you. Otherwise I would return or RMA the CPU and say it doesn't boot and force them to test it on a different machine.