After 2 full days of messing with it, we just find out that its just the RAM that we bought that doesnt work well..
We put in 4gbs of new RAM and it works perfectly with the graphics card!
Hopefuly you see this reply...
What size/watt power supply are you using in this computer? there is note in the installation instructions for this board about using a 2 x 12 main power connector or else the pci-e video card should have a direct connect to the power supply. Does your power supply have a 2 x 12 connector?
I can relate to the memory issue, i had to replace my system's memory because of constant blue screens, i think it was caused by the 1.65 volt memory.