motherboard or bios?

in my bios vcore is reading 1.45, after booting and looking at speedfan/cpu-z
and PC Probe II. there all reading 1.33.i flashed my bios and same thing. then
went back to the old bios but it's still reading wrong.i just got the board from newegg. (openbox) cause thay didn't have the retail one in stock. the board is p5k-e . also tryed removing the battery and clearing the cmos for 30 mins. that didn't work . so is it the motherboard or just a bad bios reading with this board? i can't get the vcore over 1.50 cause it has to be 1.60 in the bios and when i do that it hi lites it in red and if i try to boot i get no post.
thanks mike

Those are typical readings, at least for the ASUS boards I've had hands on. If I had to find fault, I would say its a bios calibration problem but one that you can deal with by increasing of decreasing the bios setting to get the measured voltage you want.

My P5E has bios CPU voltage set at 1.50, CPU-Z and SpeedFan read ~1.44V unloaded, while under load the voltage "droops" to ~1.40V.

It's called vdroop and very common. If you experience no erratic behavior with your OS, then you have no reason to suspect it's a power supply issue.