I have the exact same problem, using the same MOBO - the Asus A8NSLI Deluxe. I just upgraded an XP install to Vista Ultimate RTM, and lost access to two different types of USB thumb drives (that work well on other XP machines) as well as access to a Western Digital MyBook 500GB USB external hard-drives. I've been trying -everything- to get this fixed, changed drive letters, removed the USB device, more stuff - and nada.
Seeing now i'm not alone, means its more likely related to an Asus driver thing. I also have an Nvidia 7900GTX and use their Vista driver. So now probably we need to wait for the mobo Nforce driver and any Asus driver. Any luck / new discovery from your side?
I can be reached at shahart at gmail.com - i'll post in the forum as well as be happy to let you know personaly by email of anything new I find.
Shahar