I was getting this no post its the vga led I have rma'ed my board because of this. I also tried one stick of ram, reset cmos, left battery out over night you name it with no luck. I tested my psu today with a psu tester and it works fine.
If you google this error you will see a lot of threads about this were only way of getting pc working again was to re-place motherboard and I not getting asus again tell ya.