Just have been trying to go ahead and rule out other possibilities so when she's able, she can just get the part she needs without using the GM patented easter egg repair method (replacing parts till it works), but it is sounding like the processor.

Once you try booting the blank board with the clear cmos, then add the processor, ram and video card sequentially and see if it will post.

It sounds strange but about 10% of all the computer that roll through my shop i have fixed this way and they run normal afterwards. My wifes been going for two or three years now, it was one of the lucky ones too. Maybe we'll get lucky and hit that 1/10 chance .

Might check ebay if it turns out to be the processor, might not be great but found a processor that would work for $7.00 US (1.25 + 5.00(13.00 Canada) shipping)

Hugs and grapefruiTy kisses to everyone in the room I am much happier now: I think it's the video card!

I pulled everything out of the box and powered it up; no go..
took out CMOS battery, moved the jumper over, tested the power supply with a little multimeter we have here; all good.. (machine was running)
Still red lights, but after turning it off, putting the processor back in, replaced CMOS battery, I turned it on, and -- beep beep beep x 8 = Hey, I have no video card!!
So I put the video card back in, and :O blah... Back to the 4 red lights and no beeps..
Took another 10 minutes with no video card in, to get it all reset again, and now it's beeping again
I think the card is shorted, which is triggering the power supply to quit, which takes a few minutes to reset. I have turne it on and off a few more times, and it seems to power up, beep 8 times, and sit there happily
So... The video card *did* give a hiccup a few months back, which took a number of reboots to get fixed, and I don't dare stick it in again.. So, if it continues to power up and beep-beep for the rest of the day, I vote for the video card being shot... I think my boyfriend-type fellow has a couple around, so might be back in service sooner than later!!
Thanks so much for your input here folks -- I may not have figured this out without your suggestions! And now, without further ado, let's not hijack the project any more and I'll update when I get started again!

Sasha!

UPDATE: Good plan at '..snip the part out..' and here's some more to snip out: (hopefully it isn't a bad slot, but I don't think so) -- I swapped the memory and video card each into the other machine here, and both worked fine :/ however the equivalent parts from the other machine did not help my machine; further experimenting leads me to suspect the power supply. Among other symptoms, I can feel A.C. current leaking from the mosfet heatsinks in the power supply; surely that isn't normal..
I located a 430 watt (otherwise-OEM) new power supply for a steal and plan on having it here on Friday. Keep your fingers crossed for me people! (Incidentally I go in for minor surgery Friday, so may not be back here till saturday or so, providing the power supply solves the problem. If nothing else, I have a clean, tidy inside-of-my-computer)

Bad video card sounds right here, just wanted to go through standard troubleshooting checklist first, can't wait till you get back on the project. Maybe we can get the admins to snip the hijacked section out of the thread and place it in hardware .

Edit: crossing fingers for bad video card over bad slot.