Thank you thank you thank you to all who posted, especially Chino for getting the file name right! I had the same issue with a computer I unplugged and moved to a different room. I tried everything: reseating all the components, running the MemOK test, clearing the CMOS, swapping out components--you name it. Everything suggested something was off with the motherboard, and yet the motherboard seemed to be doing everything correctly but beeping and booting.
I didn't even know about the "BIOS Flashback" feature on the board, but I'm damned glad to have it. The first few times I tried it failed, but once I read Chino's post with the correct file name to use, the feature worked. And the next time I hit the power button, the computer beeped and booted as normal.
I've seen this kind of thing happen in the past, and I've always been very frustrated that I basically have to shell out the cash for a new motherboard, CPU, RAM, etc. This feature was a real life saver, and you can bet I'll be shopping for ASUS boards that have it going forward. Thanks again all!