Computer acting weird. Now it wont start.

[Seabass45]

Abit IP35-Pro Mobo, Intel Quad core forgot the model...that really popular one for overclocking with air. Crucial Ballistics 1066 ram, Nividia 8800GT from BFG Tech, Antec 500 watt PSU, and some computer case with a front panel that shows some basic stats like temp, and if fans are spinning.
Okay, so a few days ago i turned off my comp and i was getting ready to go to work...the comp shut down completely until it started up again after like 5 min. That was the first incident. The second incident was at night, i turned off the computer and went to sleep and my front panel which glows blue started to flash on and off. The computer itself wasnt running (no fans were spinning) just panel flashing. I got pretty scared so i shut off the PSU in the back. Now today...i get back from school and i want to turn on the comp and when i push the power button it turns on and off real quick, it doesnt even get to the point where the fans begin to spin it just rapidly just turns on and off until you turn off the PSU from the back. I checked the wiring in the computer case it seems pretty normal. My guess is its gotta be the case's wiring or something becuase i noticed even before when the computer was running the front panel would either be back lit or it would turn off..it was just acting funky. If anyone has an idea what it could be??? maybe im looking over something real obvious.

[patio]

PSU...new or used ? ?
Either way what make and model is it ? ?
I'm judging by the specs that this is a home-built ...correct ?
A few things to consider...
Did you use thermal paste when assembling the heatsink to the CPU ?
If you can get into the BIOS you should check to see if Wake on LAN is enabled.
If it's a used PSU you may want to borrow another working one of the same or greater wattage and swap it in there to see if this is the culprit.
Also does this fancy case have any power management features built into it ? ?

Let us know....

[Seabass45]

SmartPower 2.0 for the power supply modular. i got it for 9 dollars from staples lol, pretty good deal. The powersupply now is discontinued. Home built is correct. It was my first build and im pretty proud of it. The motherboard has a red led on it indicating that a power supply is connected, and a green led to indicated the mobo running. In addition it has a diagnostic led display showing codes as it goes thru the POST. the problem is that the computer doesnt even go thru the POST, it doesnt reach that point before it reboots itself again. Also the diagnostic led display doesnt show any codes except 1.0. when the power supply is connected. Im puzzeled becuase this kinda happened last night too but i fixed it by just constantly trying to boot the comp. so this problem seems very inconsistent in its behavior.

Update: I was messin with it and i got it to turn on. but when i shut it down to turn on again it didnt go. T_T
Question: Can it be a bad power supply still?
Update2: I managed to get it up and running again. Are there any programs i can use now to tell me information about my power supply? or if anything is wrong?
Update3:Computer was running now for several hours. I am running 1066 Mhz ram on a 800 Mhz mobo, but it said this mobo can handle the 1066Mhz. i havent bumped any voltages up or anything.
Update4:Restarting computer does NOT seem to affect the situation. Only cold boots.
Update5: http://www.xoxide.com/x-purity-case-lcd.html is the exact case i have.

[patio]

SmartPower 2.0 for the power supply modular. i got it for 9 dollars from staples lol, pretty good deal.

This is the problem. No diagnostics needed.