I had a similar problem...
1Ghz Locked AXIA read as 750Mhz (7.5x + 100mhz FSB). I bumped it to 133 to put it at 1000Mhz. It then would not boot, and I only got a long beep, before the computer shhut down, each time I tried to power up.
I shorted the CMOS, but still got the same thing. I called ASUS (big waste of time), and told them first about the 750Mhz thing, which they responded with "you have to set the FSB to 133 in the BIOS." I told them that I was not the only one with the 750Mhz problem, but they said it was not an issue with the board. He gave no explanation as to why the post did not read the CPU properly.
I then mentioned the non-posting problem. He told me to reset the CMOS (I told him I had already done that) :disgust: , and then told me my CPU was fried. He said the long beep means it is an "unrecognized " issue, and that my CPU was fried. Well I was a little disgusted, and thanked him for being so condescendingly helpful.
After an hour or so, I exchanged the board, and bought an unlocked 1.2Mhz AXIA. The problem is solved, and my AXIA still works. No damage whatsoever.
In short, I think this is a problem with a quirky reset "feature" on the board. Why they don't have the tried-and-true jumper reset, I do not know.
Hope this helps...