Sonofabitch, the problem appears to be the diagnostic tests themselves. I tried +/-10% combinations with both CPU and DRAM voltage and both sticks of RAM, with no different behavior.
Then I tried MemTest86+ 4.20 (released in January 2011), and it's running fine so far. Ubuntu 11.04 comes with MemTest86+ 4.10 (released April 2010). V4.20 "Added support for Intel Sandy Bridge CPU". I'm irritated that Ubuntu 11.04 and Win7 SP1 were released several months after the Sandy Bridge release, but neither has a memory test that's compatible. SB is a major architecture -it's not like they neglected the release of a Via or niche ARM processor.
Has anyone had succcess with V4.10 on a SB machine?
While I'm at it, I wish those two diagnostic tests would provide a more useful message at the beginning. Something like, "CPU architecture is not recognized/supported. The tests may not function properly."
Would it be possible to build a RAM test directly into a new UEFI? That would be a great feature that I'd pay an extra $10 for.
Edit: 1 successful pass so far