So ... readers digest version so turn on the pretty listening ears.
Took the P5B-E, the bend socket pin one yes, that's another story... and put it in a new case... using old CPU, stock heatsink, old hard drive a stick of Patriot RAM and the new Corsair PS.

Pushed the button and fans start and holy crap! It beeped ... and bios wanted some attention, loaded defaults and into Win 7 it went. SIW is still giving odd 12v rail readings while speenfan runs solid 12.2 for that reading. Possible issue with SIW....
Shutdown at a point and put in the other stick of RAM and gave me the previous symptom, fans and such but no beeps. Pulled the stick and it runs... but not believing that stick is bad yet... as I've tried the single stick with both mobo's and it never made a difference before. So who the frak knows... more troubleshooting on that needed.

So ... an issue with the old case. That's hard to believe really as it's a case that's been in use for quite some time and nothing changed with it prior to issues... RAM problem, maybe, we'll see but I've swapped it with no change previously... anyway, I'll continue on and see how it goes and keep you posted.

The SIW readings are odd ... mostly reads 10.2 for 12v rail ... min is 9.26 and max is 14.05 .... need more software to check that so will check asus probe and a few other and see what's up with that.