Short answer: Your motherboard might just be dead.
Long answer: Or there's a short somewhere. The symptoms being described are typical to a motherboard doing over/under current protection. Did you make sure everything is plugged in all the way and that you aren't, say, trying to feed the CPU socket power using the GPU power cables? I've seen that one before, the results were not pretty. Also, check your socket itself and see that your pins aren't bent. Hold your board up to a lamp and play with the angle, you should see an even sheen across each section of pins in the socket.
The easiest thing is to start with the process of elimination. Take the whole system out of your case and reassemble it. See if it'll post. Then yank out the graphics card and try again. Keep going, removing one piece at a time. If you're left with just the CPU and motherboard and it still won't post, you're out of luck. I just went through a fiasco where my motherboard died, and took my CPU with it. Having a spare, ancient rig to test my ram, gpu, and psu on was key to diagnosing the problem. For all we know, you might have a bad power button.
One thing to keep in mind is that the whole posting process is independent of the CPU. That's all within the motherboard, so if you can't post without a CPU, your motherboard is more than likely dead.
Cheers.