Thank you for responding.
Yes the oscillations happen regardless of what type of bios display mode - easy or advanced.
The culprit is "core performance boost". If disabled, the voltage doesn't jump all over the place. In fact it's stable at 1.046v in BIOS. Nice flat 32C temperature, no oscillations whatsoever.
In Windows, with processes running (and leaving Vcore set to auto, just disabling core performance boost), Vcore is jumping around a bit, but it's not surging to 1.5v under no load whatsoever (like it's doing in BIOS)
My CPU cooling is awesome. Enermax 280 AIO, rated at 500 watt TDP, and at 178w dissipated, my CPU temp is only 61C in a 23C room. So the CPU cooling is not an issue.
I may still RMA this. Odd behavior right now in AI Suite just after a reboot. Trying to get Fan Xpert to confirm smoothing is off, and it's just acting very slow. In the end so much is running right with this system but it is remotely possible the tech support team is right, and there are other issues with the motherboard. But we all know AI Suite is temperamental at best. (But I experienced some odd issues rebooting earlier, getting into bios... So combination of a number of small things)
Still though I really think this core performance boost is buggy. Very buggy in fact.