Well I finally found the BIOS setting.
The option allows selection for either AGP or PCI video. It was under General settings buried in a submenu under Boot Options. I looked at least a dozen times prior to this and never saw it. It's not in the manual for the motherboard (as a matter of fact, no BIOS settings are covered in the manual - you're on your own). I thought it would have been under Advanced settings for the PCI BUS... wrong.
Even after this discovery it still took about 30-45 minutes of trial and error before the board was recognized under windows. PNY has very little covered in the video card installation manual. It basically says... plug it in and it will work. Wrong. As a matter of fact, I went to PNY's website to get the most recent driver and the driver covered all 8400 series boards, but the 8400 series encompasses both PCI and PCI-E. Anyway it seems to be working, the strange thing is that when I run a freeware video card detector such as GPU-Z v3... it says that the card is PCI-e x16?! (Probably because the driver is for PCI-e).
After all is said and done, I'm not very happy with PNY as far as all the confusion between PCI vs. their PCI-e products. It seems this is not the first time this issue for this particular board has been raised. You think they would clarify things on their website and in their manual etc... However, they just leave things the way they are.
I thank the forum for their input and I hope this topic will be helpful to someone else in the future.