All hardware except video was disconnected resulting in post to bios. Hardware was reconnected 1 device at a time in order from keyboad, mouse, DVDRW drive, and first hard drive continuing to post to bios as well as boot to CD, but failure to post on connecting to second hard drive. Switching sata cables between hard drives resulted in same post results, i.e. connecting first drive continues to post and connecting second drive results in failure to post. Reconnecting all other hardware with first hard drive connected continues to post, but connecting second hard drive continues to fail to post. This seems to indicate a bad hard drive which is quite an odd coincidence with the Windows activation.
I've never had failure to post caused by bad hard drive before but would get mtldr is missing or some other error instead of failure to post. Perhaps this is the normal behavior for newer motherboards. Oh well, time to look for black Friday deal on a hard drive I suppose.