The latest BIOS fixes a slew of bugs AND adds 148 bit LBA. No earlier version for this FRU# has 148 bit LBA, so going to a prior version isn't an option.
The boot disk that's supposed to automatically update the BIOS wouldn't work so I ran phlash16 manually and did it.
The beeper beeped regularly all the time it was flashing.
Everything works OK except that it will not keep the CMOS settings when the power cord is unplugged or the switch on the power supply is turned off. (It acts like a Mac with a dead PRAM battery.)
IT HAS A BRAND NEW CR-2032 BATTERY INSTALLED. Yes, I tested it with a digital voltmeter. (The cluebat is at the ready for anyone suggesting it might be a dead battery.

The board didn't have this problem before, but the CMOS battery was totally dead before I changed it and updated the BIOS. Dunno if it wasn't saving CMOS (with good battery) before the update.
The system is useable, but having to reset everything whenever it'll lose power will be a big PITA.
P.S. When I first got the board I tried a Celeron CPU but it would claim a "CPU error" and refused to allow the BIOS to be flashed in any way. It has a 1.6Ghz Willamette core P4 now, can go up to a 2.2Ghz Northwood core P4.