I have an Asus A7N8X Deluxe. It's a great board but it produces interesting POST messages. I may get any of the following:
Keyboard or mouse failed
Memory failed
CPU fan failed
In each case the keyboard and mouse were attached, however my KVMP switch throws it off every so often. Memory is OK and I"m watching the CPU fan spins it's litle gears off.
I recently updated the firmware in the hope some of these bogus messages go away. In your case, try a BIOS update and load the default settings.
You may be right about the power. Try attaching a UPS which includes a power conditioner (not sure if all do this).
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