Well, now I have time to add my own personal touch to this thread...
This is the latest weird thing to plague a system that I was fortunate enough to have to fix (the worst part is that it is my wifes new box)...
I built her a new rig for school, nothing fancy (1600+, Gigabyte GA-7dx+ mobo, GF3 Ti200, WD 60 G HHD, lite-on cdrw, SB live, etc.)
The thing ran fine for about 3 days, then when I restarted it, it gave the 1L, 2S post code (video card) error. I cracked open the case and inspected the card, reset the card, and re-booted. It worked fine. The next day it did the same thing again, so I did the same thing (I also swapped cards to test the card w/ a known good vid card and un-installed/re-installed video drivers) and it booted fine until a restart.
Well, this sort of thing went on everytime I restarted the thing. So I tested everything, PS, ram, CPU, SC, CDRW, everything. I also insulated all of the stand-offs thinking that maybe they were shorting some traces.
Next up, I thought that maybe it was a heat issue, so I added a fan to the mix. No matter what I did, everytime I would have to restart the system, it would give the video card error !!!
I finally just RMA'd the Mobo and it fixed the problem. The techs at Monarch had never seen such a problem before and were just as perplexed as I was, lol.