Hey Clairvoyant what bios revision are you running?
I am using the Asus 2101, I have tried the mbios version but didnt find it any better.
Have you tried to swap the ram to the other 2 slots. You may need to mtest the ram.
Try swapping the slots eg if you was using 1&3 try 2&4.
Edit
Ok same ram same board. Is everything new or 2nd hand.
Try swapping the slots, if that doesnt work you want to download mtest (get the version that is a boot disk, lots of places to download it from).
The board over volts RAM by 0.8v so max bios is 2.12v Set the RAM timings manually. Then try booting (CPU to Auto/default). If this fails in both slots, your in for some testing.
Testing with memtest @ 1066Mhz try both sticks. 2 full runs should tell you if there is a problem. If it fails try the other 2 slots, if that fails. Its 1 stick at a time slot 1 (if slot 1 fails, try slot 2). If this fails try the other stick, slot 1 then 2.
If 1 stick fails in both slots its a faulty stick, if both sticks fail it could be a faulty board then you need to test slots 3 & 4 (all 4 slots should not be faulty). I would then say its the ram, or if 1 stick passes and 1 fails its the ram at fault.
memtest takes a long time.
I hope this makes sense, I have only had faulty ram once.