Okay...so it looks like it might actually a compatibility issue with the RAM, though I cannot confirm it 100% because the motherboard doesn't tell me what exact voltage the RAM is running at.
Kingston support tells me the RAM is supposed to run 9-9-9-27 and 1.5 V @ 1333 MHz or 1.65 V @ 1600 MHz, and because this is XMP RAM the AMD chipsets may not be able to set the correct timings automatically.
The BIOS auto settings puts the RAM at 9-11-11-29 and when I tried changing it manually to 9-9-9-27 it doesn't take more than a few minutes before the system crashes under load with "hardware failure". It passes Memtest86 without an issue though.
Manually setting the DRAM voltage to 1.65 V just cooks the RAM nomatter the timing settings. However, the MSI specifications lists the RAM support as 1.5 V at all speeds, which makes me wonder if the board just can't handle running 1.65 V RAM at 1600 MHz.
I found a newer version of AMD overdrive, but since it still doesn't report temperatures or fan speeds correctly (if it was right my computer would be on fire) so I don't trust it to make changes.
It does however tell me the RAM and CPU settings and it is the only utility that tells me the RAM is running 800/1600 instead of 780/1560 everything else says. From what overdrive tells me then the CPU is constantly running at 20.5x (instead of the 20x it's supposed to) and the turbo speed is set lower. I'll have to look more into it the turbo settings once I get the system stabilized.