useless mobo?

Several things can cause this:
1. Overvoltage from a bad power supply, or a power surge.
2. Overheating
3. Bad capacitors

If the caps are bulging out at the top or sides, overvoltage or overheating is the cause.

I did read an article about a capacitor problem with the electrolyte leaking out.

Seams one cap mfg made a bad lot, and they did not find the problem until boards were out in the field..

However, I though the problem was limited to the OEM brands of motherboards.

Start by contacting ABit.
They may have a replacement program.

WHATEVER YOU DO, DO NOT APPLY POWER TO THE BOARD!!!
Unplug the power connector if it is not already unplugged.

If Abit is not helpful, you need a technician with good soldering skills to have a chance to recover the board.

First, remove the capacitors.
Clean the board thouroughly with a good electronics grade cleaner.
Install new capacitors.
If you are lucky, and the electrolyte did not cause any shorts to form and damage the regulators, you should be back in business.

CAUTION: Motherboards are multi-layer boards. Expert soldering skills are required to remove and replace parts without damaging the board.

Chas