Yep that tells me the motherboard is doing what it suppose to be doing.
Next go here
http://www.memtest.org/
On another computer download memtest. Scroll down to "Download - Pre-Compiled package for Floppy (DOS - Win)"
This is the floppy version, I am assuming you have a floppy drive, follow the instructions (I think they are in a readme file) and create the bootable floppy with memtest on it. Then connect up your floppy only and boot from it.
This will test the ram, if it shows alot of errors then thats the problem but let it run for 1 hour and report back what happens.
I am hoping you can get the computer pass post and run this so we can eliminate the ram