The fact the RAM is 1.65v isnt good, but it wouldnt prevent the system from outright working. At this point I would be looking for DOA components, as everything is compatible on paper at least.
I would start with the PSU, even though it can run fans and lights that doesnt mean it can handle any real load.
Since you arent getting any beep codes, suspect its the mobo though.
What do you mean by "start"? What do you think I should do? Send PSU for replacement? I, actually, borrowed another PSU from our IT at work, but the fan on that PSU itself didn't start, even though light on mobo was on.
I would blame mobo as well, so do you think I should just ask for replacement from vendor (Newegg)?