QUOTE(Epaminondas @ Oct 12 2003, 4:15 PM)
People on DealMac seem to think it is likely processor, multiplier, or motherboard related.
This seems quite likely, sad to say.
One thing you may try is opening the side case and turning the unit on. If it passes all its processor checks, a tiny green light located near the IDE connector on the motherboard will come on as the computer initializes the IDE connection and attempts to search for a boot device. If this light doesn't come on, it's not getting past POST (Power On Self Test), which likely indicates a serious hardware problem.
Another thing to try is pulling the RAM and inserting one known-good DIMM. A RAM problem can cause symptoms like what you describe, though it's quite unlikely.