Thanks for the help.
I am strongly leaning towards a failed motherboard. I have tried 4 cards on the board in a variety of combinations from SLI, to single card nVidia in either slot (once for each card), to single card ATI in either slot (once for each card). Nothing.
I then tested both nVidia cards in my main machine and surprise, both of them work without flaw.
I then tested single RAM pieces in a variety of slot combinations (i.e. across all four slots). Nothing again!
Next I tested resetting the CMOS with the reset button multiple times to no avail. I even popped the battery out and let it sit for 10 minutes before trying again. Still no luck.
What I noticed during all of my tests is that FF on the Post LED indicator would always display instantly, including without video cards and RAM on board. I also noticed that the onboard reset button did not work, nor does the pin-head connector for reset.
Tomorrow I am taking full advantage of my instant product replacement at the store and swapping it.