I plan on purchasing an Intel 2600K processor and am worried about my motherboard choice considering the faulty chipset ("Cougar Point" Chipset ) issues.
What should I check to make sure I don't land up buying a faulty board?
You'll want to look for a board that is identified as having "B3 Stepping" for the chip-set. Sometimes listed as a "Rev. B3" and sometimes there will be an "Intel Revised" logo, depends on the motherboard manufacturer for the most part, but they all tried pretty hard to ensure it was obvious that it had it.
CPU-Z can help you identify it on a running system.
Asus has some good info here.