Theres a bit to type up but I'll let the images give you the primer.
 
imgur.com/a/ezwOV

Was playing a game (TDU2) and suddenly the screen goes black, I check the surge protector and it looks fine, power supply LED is still lit, then I begin to smell solder burning, so I pop the side of my case off and I see smoldering hot bits and a small flame/flare coming off a microchip. At that point I turned off the power on the surge protector and began disassembling the system. The motherboard is pretty much fried I think and I've already ordered a replacement from amazon, however I am aware there is some sort of warranty but I really don't want to wait the 2-3 weeks it takes to get a replacement. System was built in August 2010.
 
The Basic Specs.
CPU: Intel i7-950
RAM: Corsair XMS3 DDR3-1600
GPU: EVGA GTX 480
HDD: 2TB Caviar Black
Case: Corsair Obsidian 700D
PSU: Corsair 750Watt, not sure what model
 
Plenty of cooling too, this has never really been an issue with overheating so it's hard to determine the cause I'm not really a hardcore hardware guy to track down the issue. I've yet to file an RMA yet since I'm not sure the extent of the damage I have to my stuff. Have yet to test the CPU and other components to see if they're still functioning.

If anyone can point me to the right direction to getting an RMA straightened out or to find out what exactly went wrong I would be very grateful.

 Normally doesn't take two to three weeks, maybe 2 weeks tops. It is the holidays so EVGA will not be able to assist you right now so ordering something from Amazon was a good move.
Go here http://www.evga.com/community/myproducts.asp and select  your product, make sure invoice is uploaded and start your RMA.

speedycake

Thanks for the help, looks like I'll need to call tomorrow to get an RMA number, the damage is pretty bad though, I'm lucky I have my cable management sleeved and tied because the thought of that flame spreading to the cables and setting the whole system on fire is a bit worrying. I hope EVGA can tell me why this happened. Considering they aren't shipping out RMAs till the 4th of January I wonder if they'll be able to refund or partially refund me for the purchase from Amazon I just made. If not oh well I can just ebay the replacement I get back. I hope this issue isn't a frequent one because this is really dangerous.

Was it the VREG? I have only heard of this once before and it was that which burnt up. I think it was because his overclock voltage was so high or something to that effect. You may have just been unlucky, who knows. Get 49 more posts you can try to sell the mobo you bough here on the market place. No taxes or anything of that nature.

some imgaes from the link the OP gave us:






 
but, did you registered the motherboard before the 30-day deathline to get the warranty??
if you didn't register it then you will  not get any warranty i therefore there is not going to be any RMA assistance.
 

Are you in Europe or the USA?

If the product number ends with KR you don't have to register it within 30days, you only have to do that if you want to buy extended warranty.
 
You will have to wait until monday to contact evga.
http://www.evga.com/holiday/

speedycake

I have just registered it, I added it to my profile though and it says it has a 3 year warranty unless that doesn't apply anymore.

Even if I can't get a replacement I will eat the cost if I have no choice but I want some form of answer why this happened since I don't entirely feel safe using this product if it just burns up like that.

ouch, a failure to register can get expensive, 
"Products purchased ON or AFTER November 1, 2006 MUST be registered within 30 days of the ORIGINAL DATE OF PURCHASE to receive EVGA's Free Extended Warranty. All products not registered within 30 days will ONLY receive a 1 year limited warranty."
Unregestered you would have only been covered to Aug 2011.
  
Dont make that mistake with the new board you can use this link for the new board, My Affiliate Code:VTJPDC4OMB 
 if you wish, but you will need to upload your recipt as well. 
 

I would make sure that no damage was done to any of your other components. A failing motherboard can easily ruin a processor
 

speedycake

And at that point I would start blowing up their phones until they did something about it :\

It might be far more diplomatic to click on support http://www.evga.com/support/ and e-mail someone from the list below, while remaining calm, and open; EVGA has always been a standup company to me, But the rules are in place for a reason. Companies don't build a loyal following by doing customers wrong, but they do list the policy usually right on the box. Also note you may not get a response right away, while a good part of the people are off, or on a reduced holiday schedule. ( Just saying )   

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