Okay I have tried this test with the case fan and the fan ran perfectly fine. Now what? Is it a null point and the PSU won'y fire up my MoBo and I will never be able to use my GTX 460 card because my PSU is lame?
Breadboard with just motherboard, CPU & HSF, case speaker, and PSU. You do have a case speaker installed, right? If not, you really, really need one. If your case or motherboard didn't come with a system speaker, you can buy one here: http://www.cwc-group.com/casp.html
You can turn on the PC by momentarily shorting the two pins that the case power switch goes to. You should hear a series of long, single beeps indicating memory problems. Silence indicates a problem with (in most likely order) the PSU, motherboard, or CPU.
Motherboard LED's mean very little. When on, all they are telling you is that the computer os plugged into a live power socket and the PSU is switched.
Remember, at this time, you do not have a graphics card installed so the load on your PSU will be reduced.
If no beeps:
At this point, you can sort of check the PSU. Try to borrow a known good PSU of around 550 - 600 watts. That will power just about any system with a single GPU. If you cannot do that, use a DMM to measure the voltages. Measure between the colored wires and either chassis ground or the black wires. Yellow wires should be 12 volts. Red wires: +5 volts, orange wires: +3.3 volts, blue wire : -12 volts, violet wire: 5 volts always on. Tolerances are +/- 5% except for the -12 volts which is +/- 10%.
The gray wire is really important. It should go from 0 to +5 volts when you turn the PSU on with the case switch. CPU needs this signal to boot.
This checks the PSU under no load conditions, so it is not completely reliable. But if it can not pass this, it is dead. Then repeat the checks with the PSU plugged into the computer to put a load on the PSU.
If the system beeps:
If it looks like the PSU is good, install a memory stick. Boot. Beep pattern should change to one long and several short beeps indicating a missing graphics card. Silence or long single beeps indicate a problem with the memory.
Insert the video card and connect any necessary PCIe power connectors. Boot. At this point, the system should POST successfully (a single short beep). Notice that you do not need keyboard, mouse, monitor, or drives to successfully POST.
Now start connecting the rest of the devices starting with the monitor, then keyboard and mouse, then the rest of the devices, testing after each step. It's possible that you can pass the POST with a defective video card. The POST routines can only check the video interface. It cannot check the internal parts of the video card.
Ok, this will probably not help but what the hey.... I just got a Corsair HX850w for an upcoming build and I did not intend on using it right away so I needed to test it before the 30-return period was up.
I unhooked my old PSU and removed it from the case, for simplicity and ease I left the Corsair on the table and plugged everything in, I could not get it to start my PC like that no matter what I had tried(everyting I could think of / quadruple check everything) and had the same issue as you, fans spun for a second at most then... dead nothing.......But when I place the PSU in the case and installed it correctly everything worked perfectly.