After doin much research about this problem of ours. I found out the probable cause for this Processor Initialization. My guessing is the board we got has an older BIOS and it can't recognize the AMD X2 5000+ BE CPU, so you need to upgrade to latest BIOS which is 1.10 at MSI site.
In order to do this, just like jonathan1271 mention, you need to have another AM2 CPU, usually the older one. After you are able to boot with that older CPU, then proceed to upgrade the BIOS, all procedures are available in the MSI Forum. But this will be hard because you need to buy another older CPU or you need a good friend to lend you that or you just have to go to a computer shop and ask them to do it. I've already took mine to a shop to do and it took them quite a while, i still haven't got mine back yet. For my case, after they tried another older AM2 CPU on it, it does boot up.
But readin through the MSI forum, there's some interestin infos, maybe you guys can try it since the board and CPU is in your hands, but please read carefully when updating BIOS.
It seems like some user manage to update the BIOS even without using a second AM2 CPU like what I and jonathan1271 mention above, it's called BIOS Recovery Method, you can read it here (http://forum.msi.com.tw/index.php?topic=113808.0).
Base on WhiskeySam in that thread, he manage to update the BIOS without another CPU, i've asked a few questions there few minutes ago, haven't gotten my answers yet, from what i understand so far here's the steps:
1. Rename the desired AMI BIOS file to AMIBOOT.ROM and save it on a floppy disk. e.g. Rename A569MS23.ROM to AMIBOOT.ROM
2. Insert this floppy disk in the floppy drive. Turn On the system and press and hold Ctrl-Home to force update. It will read the AMIBOOT.ROM file and recover the BIOS from the A drive.
3. When 4 beeps are heard you may remove the floppy disk and restart the computer.
Which can be found here:
BIOS Recovery Feature
Please read more about updating BIOS at the forum till you are confident that you can do it gracefully. Agh if i have known about this possibility, i would have tried it myself instead of goin to that store where i bought the board, and they told me straight without even testing it or knowing about it, they say my board doesn't support this CPU, LOL...lame.
On another note, since most of us who got this AMD X2 5000+ BE CPU for obvious reasons, overclockin. The latest BIOS version which is stated on their site shows 1.A or also known as 1.10, this update will indeed help with our problem of not posting or booting or "Processor Initialization".
But that's just the beginning, after that update you are able to use the CPU as you like but you can't actually overclock it! At some site i've read, they have the same board and same CPU as ours with an updated BIOS (1.10), the option call CPU Frequency Configuration found in Cell Menu is not there! That's where we do our overclockin mainly the CPU Multiplier adjuster.
So if you plan to overclock; like now, you can update to another BIOS which is version 1.11, it's in beta still, but it works for them. on the same thread and many more you will find information about this BIOS, here (http://forum.msi.com.tw/index.php?topic=113808.0)
notice what BuD_Sp3NcER post, he mention about this 1.11 BIOS for AMD X2 5000+ BE on MSI K9N SLI Platinum, after that update, you will be able to overclock.