When the power button is pressed, there is no display, fans are not spinning, and the power light on front panel does not light up. The system retains the state of not being powered on.
I recently bought a new Motherboard - Asus A7V400-MX-SE to replace my existing one (A7M266). All the other components are the ones I used with the earlier motherboard. (Athlon 1.2GHz processor)
The Standby LED is on though. I have removed all components one by one and tried to power on the system each time until nothing was connected except the CPU fan and memory. This power supply was working fine and I am not sure whether this could be the problem.