The PSU and mobo are a couple of years old, but previously tested good. They've been in storage, and I just put them in a new case.
5v standby is good. Power switch works and is in the right place. But when I close the power switch, the power-on pin (of the ATX power connector) stays high (4.4v).
The 5v standby line is 5v disconnected and 4.4v plugged in. That sounds like too much of a load.
Hey! The fans just spun for an instant when I wasn't even touching it.
Now the fans spin for a second when I press power.
Maybe something is loose or shorted.
Will try without the video card and other connectors (like reset) disconnected.