No, obviously some power is getting through, I'm not up enough on electronics to know what or how, but if the paperclip doesn't fire it up, its dead, don't mess with it any further.
time to find a replacement for your mate I'm afraidhttp://www.thermaltake.outervision.com/
will help you calculate the wattage required, or if the old one has the Watt rating on it, follow that as obviously its enough to power the system
**Edit, you posted as I did, thank you for B.a. man,
and good luck with the new one
I'd also clean the Pc to make sure its ok, no dust etc built anywhere