Solved by updating the BIOS on the MB. It was version F1 upgraded to F5 and all worked. If I had not had another processor I don't know how I would have done this.
Thanks for testing and posting your results. I am glad your computer is working now.
Hey.... I am facing the same issue. Currently i am upgrading from an i5 to i7-4790k. I have even sent the motherboard to RMA thinking it might be motherboard problem.
Hopefully will find some solution soon.