I have an ASUS board (M2A-VM), so I hope that makes this easier. Everything from this point on will be nothing but suggestions based on how my board functions.
FWIW: References to NVRAM, http://www.tech-faq.com/nvram.shtml
. In my experience, these references have always been an indicator that my BIOS was screwed up...because the CMOS battery needed replacing. That is the first move I would make...buy/install a new CMOS battery
When you say "the old" hard drive...are you talking about an IDE with XP already installed...or a clean hard drive? If you just tried to move the hard drive from one system to another...that can involve problems with drivers and settings if you try to boot into that Windows version.
If there is any partition at all on the hard drive, delete it.
I see that you have one IDE connector, supporting 2 devices. The PATA/IDE hard drive goes on the end connector, with Cable Select (or Master) as the jumper setting. The optical drive (which I don't see described) should also be jumpered CS (or Slave) and go on the "middle" connector (assuming that it is not a SATA optical drive). If you use CS jumper settings, both drives must use that setting, same for Master/Slave...you cannot mix them.
Disconnect all other drives from the system.
See if the system will now POST and allow you to go the BIOS. If the BIOS properly detects those two devices, we are farther along.
No point in my suggesting anything else now, I suspect replacing the CMOS battery will clear things up and give you options for a proper install. If not, post back and we'll try something else.