Installed the cpu and YES!! IT WORKS!!
It was getting kinda late and I was really tired, but couldn't resist installing the cpu rightaway, nearly cost me dearly.
I installed a zalman northbridge cooler, motherboard was flexing a bit, not much but anyways, installed cpu and put everything back together, turned on the power....nothing
Thought I killed it, was really agitated, retraced my steps and then it finally hit me, I mistakenly switched the mobo and pci express videocard power plug, duhhh...
After switching the cables, booted up pc and was greeted with POST showing Phenom II 945
I'm so happy!!
I haven't tested the cpu thoroughly yet, but what I'm noticing already is that internet explorer rendering is alot faster and smoother, same for windows explorer rendering, everything seems snappier.
I'm running windows 7 rc by the way, waiting for corsair P64 ssd drive before making the switch to win7 ultimate retail.
Thanks for the offer Darkseid001 for the BIOS with SLIC 2.1 support, but I have a technet subscription and also have access to vlk codes from work, so windows activation isn't an issue.
I'll be testdriving the cpu this week with games, photo editing and some other stuff , I'm sure I'll be noticing a nice increase in speed and smoothness in alot of things.
Darkseid001 I really don't understand why Gigabyte is acting the way they are, I've been using Gigabyte products for a long time, mostly because their hardware hasn't failed me once, I've had their mobo's and videocards, been very pleased also with support issues, so I'm disappointed in the way they're handling this whole case, AM3 cpu's clearly work on rev 1.0 of the board, however it should be said as mentioned by you that it's not recommended (try at your own risk) to install cpu with a higher tdp than 95 watt.
I hope that other people with the same board will notice this thread and be informed that AM3 cpu's are indeed supported, time will tell about stability, but I'm confident that it'll all work out.
This is the best upgrade I've had in a very long time and can't say enough that I'm very, very happy