Definitely sounds like the motherboard now, though that would of been my guess anyways. When a board can't run a quad-core at the proper speed, you already know it's severely limited.
Least you can get a motherboard for about $100, assuming you have DDR2 RAM. Look at the Gigabyte GA-EP35-DS3L or GA-EP45-DS3L.
Came across this on Google too. Same problem, guy swapped motherboard, worked perfectly.
Asrock 4core dual VSTA + 8800GTS - HEXUS.community discussion forums
Oh another red flag I see with that ASRock board, the PCIe slot only runs at 4x. Not even 16x. Could be part of the problem too.