More info -- finally contacted iXSystems after I couldn't repeat the memory test failures since they had shipped me a dimm to replace with. When they asked for the motherboard BIOS / BMC version info, I discovered that the BMC was currently in a failed state -- at least that's what the BIOS was reporting. After updating the BIOS, there was some hope that the BMC would get refreshed, but it hadn't after reboot.
I let FreeNAS boot itself up, and right before I normally would get the console menu, the system rebooted itself. I captured this in video (see attached). If I let it fully boot up again, it would reboot again, -- at the same spot.
What I'm curious about is what triggered the reboot -- was the OS somehow sensing a "ctrl-alt-del" type signal? The OS gracefully rebooted -- it wasn't a sudden thing. At around the 1:43 mark, you can see the ipmi errors I'd very occasionally get previous to any reboot issues -- perhaps related? The reboot trigger doesn't hit until around the 3:00 mark.
After powering down the server, removing the power cord, waiting, and then powering everything back on again, BIOS is correctly detecting the BMC now, and the system was able to boot up without issue. Now I'm wondering if I should re-run the memory tests -- did the previous tests pass because the BMC is what normally reports memory errors, but because it was faulty, it wasn't? So strange.