Thank you!
Well, I tried everything because the "so-called" Asus Technical expert on the other end of the hotline said that the chances were very high it was either RAM or Power Module even though I tried to explain it to him that the POST indicated the Card.
I believe it is buggered too, even if the monitor is getting a signal and even if the fan and lights are working as they should.
Moved up to an FX5200 for now, before saving for an AM2 system and heading to PCI-E. I guess this is just one of those "lost causes". First HW failure I had in the "expensive" range, but the system is old and has held together well for a few years, just the card was rather young.
As for the ATI suggestion.... well, its ATI... nice cards but a driver nightmare. Thank you for the suggestion but, once nVidia, always nVidia, had my fair share of ATI experiences, none of them positive in the gaming area.