Hi Carl,
See if there is a setting in BIOS to Disable the Quick Power On Self Test option. That way, the BIOS will count your RAM 3 times as well as perform so other tests...it'll keep the first boot screen on your monitor a little longer.
Not sure about the hardware monitor, I recall that you're using a ASUS motherboard...could be needing a updated ASUS Probe software.
Are you using the stock INTEL heatsink? Funny that the fan is slowing down like. The 2 recent P4 builds I did, the Intel fan speed stayed pretty steady around 2350 RPM.
Cricket