In my experiences, corrupt BIOS can either be a power supply, or a motherboard issue. I noticed on your picture of the PSU tester, you don't have the CPU pins plugged in (either 8 or 4 pins). Plus those in and re-run the test.
The tester you have is a cheapo, but will find IMMEDIATE problems with your power supply. Do not trust it to be the end-all test. Double check that everything is in correctly (i.e. Power cables, the motherboard is on the stand offs in the case, all the cards plugged in properly, etc.). Try to run the system with just keyboard and mouse for the 20 or so reboots. Is it a standard keyboard/mouse, or a super-fancy style? It may be drawing more power than the system expects as well if it's on the same USB Host. Try spreading the connections on USB out across two sets. Barring that, "borrow" a cheap $20 keyboard/mouse combo, and try with those. Again, just the keyboard, mouse and monitor should be hooked up at this point.
Everytime, does it boot up properly? If not, more troubleshooting ahead. Unfortunately, there is no built-in video, so I can't recommend you remove your graphics card yet. While the system is plugged into the wall, powered down, remove the CMOS battery. Check this with a multimeter. It should read around 3.0V, +/- about 10%. If it's OK, plug it back in.
Have you done a BIOS upgrade? Read the motherboard's documentation about how to do so. Watch for things such as formatting the flash drive with the correct file system. I mention this because some Asus motherboards will read an NTFS flash drive, but not do a BIOS upgrade from it; Asus motherboards seemed to have required exFAT or FAT32, in my experience.
But honestly, the next thing to try is to seriously get spare components and swap out until it works PROPERLY. I realize it may cost some money, and you'll be delayed getting the system running. Maybe take advantage of your warranty period, and send back the motherboard, PSU and video card. See what they'll say about it.
Best Answer
This is a hardware issue, First thing first:
NOW, connect the monitor, keyboard and mouse. Turn on your computer and check your system, and try to use it long enough to determine if the BSOD will appear or not. IF everything looks good, then turn it off, and plug the second RAM chip and turn it on and check. Do the same process for all cards and devices until you hit the Jackpot !