Old build new problem

Hi guys. My friend got a working junk PC since 2004-5. It was working fine but now it has developed a problem. It wont respond to the power button but the light on the MB is lit though. I have checked the cables on the MB thrice. after i leave it for some time then it responds to the Power Button but does not start the power button keeps blinking till i hold the button. still after sometime it starts and works fine but then again when i shut it down the same problem starts and i have to re arrange all the case-MB cables. What can be the cause of this. here are the specs:-
intel 845GVSR micro-ATX
Intel Pentium 4 2.00 GHz
Kingston 2*128MB RAM
LUNAR 125W POWERSUPPLY!!!!(Remember Thats not mine)
a DVD Drive (combo)
a seagate barracuda 40GB
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More about build problem
  1. Other than indicating that the PSU is plugged in and turned on, the motherboard LED does not mean anything.

    First step, replace the PSU with one of these:
    Corsair 400CX (30 amp 12 volt rail)

    Then, if it is still broken:
    Our standard checklist and troubleshooting thread:
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