The voltages are not valid if the thing is not running.
You should be able to remove all power from the hard drive, And remove the IDE cable too. Now try the power on button.
At this point you may get a screen.
If not, power down fully. Now remove data and power from both floppy and CD ROM drive. (We are thinking a drive may be bad.)
Put power on again
Notice is the keyboard lights come on.
Expect three lights to come on, then off at power on. Then maybe on more time. And last just the Num lock comes on.
If you get that far, Hit the Caps lock. If you can toggle the Caps lock, the PC is more than 90 per cent good.
So how far do you get with no drives connected?
BTW, just how old is the machine?