Bad Power Supply????? - Just starting to assemble

If you mean buy run, supply voltages then yes.
The fans won’t necessarily come on unless there is sufficient heat.

So I'd need a multimeter to check the voltages...

Fans didn't come on and this is my first time, so I'm wondering about anything out of the ordinary.

Now I'm wondering why some of the offset screws for the motherboard have small male ends that would fit inside the holes the the MB. I'm assuming these will hold the board in place as it is placed over the offets.

Yes you would be correct. They are for people who install motherboards with the case standing up.

An ATX power supply does not power up all of it different leads until it is signaled to by the motherboard.

There are power supply testers available: http://www.antec.com/us/productDetails.php?ProdID=77003

There is also the 'manual" method: http://www.duxcw.com/faq/ps/ps4.htm