New DG43GT will not POST

OK, I just built a new system for my kid, using a DG43GT motherboard, and an E4600 processor (removed working just fine from my own PC... I upgraded to an E8500) .

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I set the BIOS setup jumper to "Configure", and was indeed able to configure.  I didn't really change much, basically just the time and date.  I did poke around a bit verifying that my CPU, memory, harddisk, and DVD driver were all probably identify (they were).

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I exited this initial BIOS setup, with saving my changes.  I got a message to turn the system off, and move the configuration jumper (I did).

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Now, when I turn the system back on, I get a single beep, and the power LED on the front panel blinks once.  Then a pause for about 5 to 10 seconds.  Then another single beep and single blink.  This just keeps repeating over and over again.  Nothing appears on the monitor at all.  The keyboard's Num Lock does turn 'on'.

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Some more details and observations.

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When I turn the power supply itself 'on', the board appears to want to start.  The CPU fan starts to spin, and the rear case fan starts to spin.  After a second or two, they both stop.  I mention this because I never had any motherboard do such a thing before, but I will admit this is my first Intel motherboard so possibly this is just an Intel quirk (but it might also be a clue).

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When I press the front panel power button, the CPU fan starts to spin, as well as the rear case fan, but after a few seconds the rear case fans stops (but the CPU fan continues).  After I get the first beep, the rear case fan starts up again, and then continues to spin continuously. 

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I assume that my monitor and keyboard are working and connected OK, since I was able to do the initial BIOS configuration.

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I double and triple checked all connections.  I tried temporarily unplugging the unnecessary USB, Audio, and IEEE cables, just to rule them out (didn't help).

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I read the manual, and a single beep/blink doesn't appear to be a error code. 

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So, I am lost here.  Any help will be greatly appreciated.