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I can't guarantee a new PSU will fix the issue, but with 2 video cards I might want one with more available output. The cintinuously flashing Blu-Ray drive light would seen to indicate that something is trying to access it, so it could still be a motherboard problem. If you get no beeps with no video card installed, that may be a motherboard problem indication.
See that's what I'm thinking. A second factor that it could be a mobo fault is that the box that came with the mobo was NOT sealed and the non static package where the mobo is placed was NOT sealed as well. I ordered a new mobo and I went to exchange the old one. I will keep this thread opened for more opinions and I will let everyone know if the problem is solved with the new mobo and the current 600W PSU.