I recently built a new computer and couldn't get the mouse or keyboard to wake the computer from sleep.  After looking around a bit i found a setting in my bios that could change the wake control from the OS to the motherboard.  So I switched it and now i can get the computer to wake from sleep with the mouse but it seems to reboot the computer every time it wakes up.  Windows 8 wakes up properly in that everything i have open is still open but it takes longer to wake from sleep than to reboot.  Is it going to "deep" into sleep? Should i set the bios back to OS control and am i missing a setting in W8? any help would be appreciated 

You may upgrade the BIOS and see if the issue still occurs. If the issue persists, bo back to Windows 8 and wait for new BIOS updates.

I checked the bios and it is updated. Is there way to monitor how deep the computer goes into sleep?

I too have this same issue.  I am not really sure what causes it.  It didn't seem to happen right away, but over time I would get a post "beep" and it would take longer to come out of sleep.  Almost like it was in hibernate.  However, hibernate is disabled, and so is hybrid sleep.

I might try messing with the motherboard settings like you suggested. I have a gigabyte motherboard, not sure if its an issue with that.

You have described it perfectly.  Let me know if you find a solution.  My motherboard is a MSI 970 A.