All the more reason to think my board is somehow defective.
I suspect it's either a flaky northbridge controller or something to do with the power regulators around the CPU.
I've been through just about everything to troubleshoot this board multiple times over with no improvement. Oddly enough the beta 0402 BIOS seems to have made the problem worse, so this does leave the possibility that it could be somehow BIOS related but then why don't many others suffer from the same fait? At the end of the day I'm kinda tired of dealing with it, so I think I'll go out today if I have the chance and see what's available. I'd kinda like to try the Maximus Formula just for a change but if it's not available then I'll likely get another P5K Premium.
-EDIT-
Just called the shop and they said they won't have the Formula in for another two weeks at least, but they do have several Premiums in stock..... So I guess it's another Premium for me.
Hopefully 2nd time is a charm.