Asus mobo: Sudden "no CPU installed" message, yet it works. What's going on?

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My computer, based on an ASUS P4T533-C mobo that never gave me any problems, has suddenly and spontanously begun complaining with a "No CPU installed, no CPU installed" error message (verbal spoken message) when I power it up. Then the system proceeds to boot normally. However if I reset it before the POST has completed, I end up in the CMOS setup screen with messages about how the mobo now runs in safe mode after having hung on a previous boot attempt due to an incorrect CPU speed setting. Which is not the case because the CPU setting _is_ correct. When I reset it after POST has completed, no error messages occur.

ASUS support sent a BIOS update, which I have installed as per their instructions including reloading the factory default settings, but to no avail.
I have made no hardware changes prior to the first occurrence of the problem.

What could cause this? What could I do to trace or fix the problem? Is my mobo about to fail? All suggestions are appreciated. Thanks!

// Frank
 
So am I, and I have a very beefy and reliable 520w power supply. I rma's my mobo and apparently its clear, however the problem is not consistent so the technicians may have missed it. When I reinstall I shall run diags on my h-disk and also run prime 95 to determine what is going wrong. Btw i'm running a maxtor h-disk and geil memory -

Someone must have found a solution by now - Please enlighten us! :(
 
those motherboards are notorious for being faulty. I know. I had one and got rid of it. You could tear your hair out trying to troubleshoot. Chances are the motherboard has gone bad.

I switched to an MSI K7N2 Delta 2 platinum with no problems.
 
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