I was having this problem with one of my P3's in my VP6. Turned out the CPU wasn't fully inserted, and when it was the system refused to boot up--no beeps, nada. I'd check the CPU and make sure that's all set nice and stuff and check all the cables. I know it's one of those "duh" things, but we all do stupid stuff.
It's either the CPU, motherboard or PSU, and I'm assuming this stuff is new, so you can exchange them for a new one hopefully. I think it's either the motherboard or the CPU.
Also, I don't know if this applies to all of Asus boards, but my A7V would throw fits if I fiddle with certain settings in the BIOS and then would start acting funny, like not detect my DVD and CD-ROM's and such. Try resetting the BIOS and changing very few things if any.

Yeah. I tried resetting CMOS bios earlier today. Technically last night...hehe since it's already 1:37 am right now. Resetting CMOS didn't help either. I think I am going to request RMA to return the board. I am just going to buy the same one from a local computer shop.
 
My computer boot up ok though. I can get to Windows 2000. Just cannot restart it. This is strange...All I know is that it is going to be a ***** to take out Fan off the CPU. They need to design better so that fan should be able to come off easily. I had to use a screwdriver to hook the fan to the CPU bracket.

I can sympathize, dude. I had to take off the heatsinks on my P3's plenty of times to confirm that I had a bad CPU! I really hate the 2 piece clips on the GlobalWIN's because I've taken off the small piece accidently several times.
The best clips I've worked with are the ThermalTake Orb's, which I've seen don't perform quite as bad as ppl make them out to be.
Apparently the P4 heatsinks aren't that bad to put on, not that that does you a whole lotta good...

I finally figured out what is causing my problem. It was the stupid Netgear NIC. Weird...never thought it would prevent system from just restarting. I will have to replace that Netgear card with 3Com since 3Com doesn't cause the problem when I put it in.

Did you figure that out before taking out the Netgear NIC?

No. I was just running out of ideas of what could be the problem. I've tried replacing different video cards, monitors, resetting CMOS, and all those stuffs. Then I took every cards out except video card. Then the problem went away. I knew then that it must be one of the PCI cards. I put back one PCI at a time until I get the same restart problem. It turned out that when I put in Netgear card, the problem returned. So that was how I figured out it was Netgear NIC causing the problem. I still have it installed in the system right now until 3Com card get here later this week. Right now, I just don't try and restart computer.

I meant the motherboard. Sorry. Hope you didn't take that out.

Oh, hehe. No, fortunately I didn't have to take it out. That would be my last resort to return the board. But I was really close to returning that board and get another one from different company like Abit KG7. I have been using Abit boards and they have been really stable and good. Right now, three computer in my house is using Abit. Plus, Asus's support sucks in my opinion.

You actually use tech support?! If I have a problem, I just come here or hit 2cpu.com's forums up--under a different alias tho.
Asus support is pretty lame, I have to agree, especially considering part of the cost is having the name Asus on your computer. Haven't really tried Abit's tech support, but I shouldn't need to.
It's funny, the best tech support you never use, but all the bad companies offer bad support and you can never get anything from them--FIC is a big offender.
I didn't like the BE6, but my VP6 rocks! I don't think I'll be using Abit's tech support, and if I need help, there's two sites dedicated to the thing.
 
Well, at least your problem is solved!