The short answer to your question is No.
Dell motherboards don't support power on from mouse, hotkey, f1, etc... This goes for all Dell motherboards, the Dimension (even the XPS), OptiPlex, and the Precision desktops.
The only options that are supported by the Bios are for power on after AC loss, and for wakeup from Lan.
The only thing I can suggest is as others have, wire onto the powerbutton connection on the motherboard. It wouldn't require modifying your machine, as long as you did it right.
You would need a button, some wire, and a 2 pin connector to swap with that of the cases power switch on the motherboard. You could use a spare cab Pushbutton, some spare wire, and a 2 pin header connector.
Depending on which dell motherboard it is, they usually place the power connection on the far left/front of the pin headers. Its well marked.
You could even use a old cd-rom audio cable (cut down to 2 pins) in a pinch as a proper plug, but ripping one out of a junk machine is far easier.
You would just extend the wires up to the button on your cab.
I highly doubt Dell would even blink about this. Its not against warrenty to open your system, and since your not cutting anything, simply swapping a plug, they would never know.
To top it off, a current sensing power bar (don't have the link handy) would power up the rest of your cab when it sensed the pc turn on.
SD