The FSB has nothing to do with the real-time clock. If the battery is good, it should be OK. Make sure that the CMOS-clear jumper is in the "normal" position and not the "clear" position and that the button cell is OK. I usually test them under load with a two-cell penlight bulb applied momentarily.

Does it hold the other settings? If so, the clock part may have locked up for some reason (unusual, but it does happen), requiring that the CMOS be cleared and re-doing the setup.

Another possibility is that the clock crystal is broken or loose. Most clock crystals are 32,768 Hz quartz "tuning forks" in a small, cylindrical metal tube located near the button cell. Look and see if it has come loose in handling from being bumped around--it happens. They are a standard part and can be found, for example, in a broken or dollar-store digital watch.

No, it does not keep any of the settings. If I unplug the machine for more then a few seconds it forgets everything. it will come back thinks it's january 1999 and the processor is a PII 233mhz but when its up it runs great.

Then the board "thinks" that the battery is dead or not connected. Check the battery itself and the jumper setings.

Yes. The fact that you just bought the battery does not necessarily mean that it's good. CR2032s are mass-produced by the millions, so don't rule out the possibility that the particular battery you purchased was a bad one that slipped by quality control.