Ok, just did another test.
>Used clear CMOS.
>Only change in BIOS was disabling Q-Fan (to not get CPU fan error), and left it in AHCI mode.
>As soon as I hit F10 and enter, the PC restarted, worked its way to code 01 and started the infinite looping process.
I am sending this board back on Monday and I am hoping someone from Asus gives me a good reason to try out a 5th board, or I'll be forced to go to MSI and call it a day.