There ARE newer bioses.. http://www.ecs.com.tw/download/l7s7a2.htm . I have the same card and board and it works fine. Flash up, restore bios defaults, fast writes off, then try it. It is a crappy board, but it works..If it still won't boot, RMA the card or at least try it in another system..

Mine:
BIOS Properties
BIOS Type AMI
System BIOS Date 03/13/03
Video BIOS Date 03/03/24

BIOS Manufacturer
Company Name American Megatrends Inc.
Product Information http://www.ami.com/amibios

Motherboard Properties
Motherboard ID xxxxxxxx-SiS746$L7S7A2L7S7A2

Motherboard Manufacturer
Company Name Elitegroup Computer Systems Inc.
Product Information http://www.ecsusa.com/products
BIOS Download http://www.ecsusa.com/downloads/bios.html