Breadboarding, system turns off after a second

I've been encountering an issue with a new build I'm working on. I've read up on troubleshooting and decided to breadboard it to try to identify the problem. My system starts up and turns off after a second. The strange thing is that it will try to start usually around 3-4 times and on the 4th or 5th try it will start.

I only have the MB, the PSU, and the Processor with the heatsink attached currently connected and I'm getting these results. The MB has an LED indicator that reads 55 when it manages to properly start-up, but when it turns off right away it only reaches 22. I also have a system speaker attached to the motherboard. When it manages to start, it beeps 4 times. I've also tried connecting one stick of RAM at a time in the DDR3 A1 slot and I get similar results (including the 4 beeps when it starts, though curiously, one of the sticks doesn't seem to allow it to start up).

I'm kind of lost on what to try at this point. I'm thinking the PSU is the culprit, but it passed the paper clip test and does manage to start it up, albeit inconsistently.

Here are my specs (I'm including my whole build for the sake of completeness):

- ASRock Fatal1ty P67 Performance LGA 1155 Intel P67 SATA 6Gb/s USB 3.0 ATX Intel Motherboard
- CORSAIR Enthusiast Series TX650M 650W ATX12V v2.31 / EPS12V v2.92 80 Power Supply
- Intel Core i5-3450 Ivy Bridge 3.1GHz (3.5GHz Turbo) LGA 1155 77W Quad-Core Desktop Processor
- XIGMATEK LOKI SD963 92mm HYPRO Bearing CPU Cooler bracket included I7 i5 775 1155 (Heatsink)
- G.SKILL Ripjaws Series 8GB (2 x 4GB) 240-Pin DDR3 SDRAM DDR3 1600 (PC3 12800) Desktop Memory Model F3-12800CL9D-8GBRL
- GIGABYTE GV-N670OC-2GD GeForce GTX 670 2GB 256-bit GDDR5 PCI Express 3.0 x16 HDCP Ready SLI Support Video Card
- SAMSUNG Spinpoint F3 HD103SJ 1TB 7200 RPM SATA 3.0Gb/s 3.5" Internal Hard Drive -Bare Drive
- LG DVD Burner Black SATA Model GH24NS90 - OEM
- OCZ Vertex Plus R2 VTXPLR2-25SAT2-120GB 2.5" 120GB SATA II MLC Internal Solid State Drive (SSD)
- Antec Nine Hundred Black Steel ATX Mid Tower Computer Case with Upgraded USB 3.0