As a quick Intardnet diagnosis, I'd say your motherboard is bad, but power supplies are relatively cheap and easier to swap out, so I'd try that before swapping out the motherboard...particularly if you can borrow the PS out of another computer in the house.
First things first though, unplug everything from the motherboard except for the vid card, CPU, Memory, and power (of course

). Oh, and the leds/reset sw/power sw/spkr can stay plugged in also - although unplugging them can help identify that one in a million chance that a demon put a hex on your PC speaker. If it works after that, then start plugging things in until it's broken again.
After that, I'd try swapping out the power supply.
Next I'd swap out the memory, but only if you have spare memory lying around - or can borrow from another computer. It's not likely the cause of your problem, but swapping memory is easy and it will keep you from saying

,

,

, and/or

when you've swapped the motherboard and find out the unlikely has happened, and the memory actually was the problem afterall.
Then, if/when all of the above fails to make it work, swap out the motherboard.
And if after all that it still won't work, your computer hardware is being obstinate. Break out the soldering iron and a pair of clippers and stare ominously at it...at this, it should realize the futility of crossing you and start working again.
