Finally found a solution after trying 3 different computers, the problem here lies in the 64 vs 32 bit OS. Installing PSUmoni2140 on a 32 bit windows XP system yielded no errors and I was able to upgrade the firmware and change all the start up timings.
Upgraded to the 1.8.02 firmware
ACPI delay to 10 seconds
ACPI Signal to 1 second.