This is a board i have asked to be RMA same thing as you, for a week all i got was that CPU_INIT on the small display.
Reset comos loads of times, battery out , upside down leave for hours no change never posted once in a week.
i then tryed P5N-T Deluxe posted ok install windows ok , but never got to windows enviroment BSOD 0x0000124 or freeze as you get to windows on Vista 32 bit.
Look at the Asus fourm for the board theres pages of help about cpu-init but it didnt solve it for me.