The auto reboot (or whatever its called) is a kinda safety feature on most modern ASUS motherboards, it should only happen if two conditions are met
- The board has had memory or voltage settings manually configured
- The system has just been cold-booted (i.e powered up just after plugging into mains)
If the board is on full auto it should just power right up and boot first time with no auto reboot, from there you can enter BIOS or let the machine boot right up into Windows.
If the board has had some tweaking (i.e manually setting memory timings, adjusting the straps, voltages etc etc) then just after you power up the system will suddenly shut down (for up to a few seconds) then power itself backup allowing you to then either enter BIOS or boot into windows.
On some rare occassions when some awkward settings are entered or you are using some cranky hardware the auto reboot feature can enter an infinite loop, boot, power off, boot, power off, boot power off etc.
I have only seen an ASUS board do this myself once I have tweaked the BIOS to oblivion and the auto reboot feature cannot resolve my settings or make sense of them.
To resolve this crankyness all I needed to do was power down the system using the PSU rocker switch, leave it off for maybe 10 seconds then power up again, at this point the ASUS C.P.R system kicks in and sets fail safe BIOS settings so the system will POST.
Does this sound anything like what is happening to you? If so have you tried powering up the board with maybe one stick of RAM?