PSU going bad? case fans blinking. no boot.

I built a new system which is about 3 months old and had the same set up until recently it started to crap up on me. My case, the fans are connected straight from the PSU. What happens is that the fans spin but all the LED blinks like crazy. The MOBO isn't functioning since the CPU fan is off and so is the vid card fan. I remove the 2 harddrives and the side case fan and it starts up. However it happened again and I let the system rest for like 5 mins and it started up again. Do I need a new PSU or is this even PSU problem? Ground?


500 WATT ANTEC PSU
ANTEC THREE HUNDRED ILLUSION
AMD PHENOM II X4 955 BE 3.2
4 Stock case fans
(1) additional case fan.
640 WD HDD
250 WD HDD
200 seagate HDD
4 GB DDR3 RAM ( G.SKill)
24X DVD-ROM BURNER
GIGABYTE 770A-UD3 MOBO
HIS RADEON HD 5770
WINDOWS 7 PROFESSIONAL 64BIT
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More about case fans blinking boot
  1. which antec psu exactly?
  2. http://www.newegg.com/Product/Product.aspx?Item=N82E16817371007

    Antec earthwatts EA500 500W Continuous Power ATX12V v2.2 80 PLUS Certified Active PFC "Compatible with Core i7/Core i5" Power Supply
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