it looks good. i'm not seeing anything obviously wrong with it. It appears to have been re-capped. (original caps were green) What is the brand and wattage of the power supply in the machine? i'm wondering if it's still original and starting to flake out.
otherwise...
the other thing you can try is resetting the CMOS and see if it boots up properly. Remove the battery and find the CMOS clear jumper and move it from it's current position to the other pin. (it's near the battery holder)
it should complain about invalid or corrupted CMOS settings and get you to press F1 to enter the setup. if you get in, your golden. if not, you may have a corrupt firmware in the CMOS.
I would search out other avenues first (power supply regulator etc) before suspecting the CMOS but you never know.