Wow! First of all let me just say thank you for the many responses i have received, i greatly appreciate all of your input (now to process it all

)
Let me try and answer as many of your questions as possible.
"Did you use the ASUS BIOS update utility provided and update your BIOS in WINDOWS? "
- I used the windows update utility (seemingly a foolish decision in hindsight)
"Is this the first time you update BIOS and are you sure you choose the correct motherboard BIOS instead a wrong model?"
- Yes it is definitely the correct bios, it is not the first time i'm updating the bios, and also I was under the impression the update utility would automatically make sure that the bios is for the specific mobo before it updates.
"The CrashFree BIOS2 feature now includes the BIOS auto-recovery function in a support DVD. Users can reboot their system through the support DVD when a bootable disk is not available, and go through the simple BIOS auto-recovery process."
- I don't fully understand how to make use of this feature. Nothing appears on screen when I start up the pc so how would I be able to boot off the cd???
"I've got the same board, why did u update the bios?"
- I could not play any games anymore, it got to the point where the pc would crash (just turn off unexpectedly) whenever I would fire up a seemingly graphic intensive game. (Strangely enough never with benchmarking software).
I hope i've answered all the questions posed, I will try some of the suggestions mentioned here, thank you again and I will keep you informed.
