Well, I think you could have a dead board. I've got one like that; an oscilloscope shows that the CPU starts to run but, I guess one of the critical chips on-board is dead because it doesn't get any further. Are you sure that the BIOS ROM is OK ? I have revived two dead boards that were dead because someone mis-flashed them, so it could be worth hot-swapping (also known as hot-flashing) - see
http://www.wimsbios.com FAQ #9 or
http://www.wimsbios.com/phpBB2/viewtopic.php?t=529&postdays=0&postorder=asc&start=30 or Rainbow's link earlier in this post.
When I asked if it beeps, what I should have said was "does it beep if you remove the RAM", that being one of the first things it checks. If it doesn't it's failing at a fairly basic level. You could try buying or building a Power-OnSelf Test (POST) display board but that seems like a lot of money or time for a board that's probably deceased.