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Well, after 2 hours of trying "everything", I figured it out. Can you believe it was because I had both of the floppy power connectors on the motherboard plugged in to floppy power connectors??? That was it! As soon as I pulled both of them, walla! It was magically booting again, and best of all, at 8X!
So, it seems that if you plug those in, you can only put video cards in the 2 pci-e 16X slots. Weird, but everything is running like a champ now. Thanks, oiler, for pointing out that it does indeed work, or else I would have just let it ride the way it was.
Shawn
Also, you were right about the Lan, so it seems that my board is not defective at all, I am!!! So, case closed and problem solved.