Definately smacks of either CPU or RAM problem. I know your mobo is dual channel but can you run it as single channel with just one ram module?
If so, I would try that with each module in turn to eliminate whether its a RAM problem. If you can get it to boot, run memtest or something over it.
The siren however suggests that the CPU may have overheated originally. If so, you may have damaged the CPU & hence the no boot problem.
If you can alter the CPU's FSB by jumper/dip switch, then try lowering it a bit & see if that helps.
I have read a lot of bad reports regarding this particular mobo though on the net e.g cpu compatibilty (does not support winchester core), over heating problems, bios config problems etc.