I think it's okay to diagnose the problem on the list, I'm interested in weird and esoteric failures
I second what Kevin is saying.
You are probably experiencing some sort of hardware failure in either power supply or motherboard that could have been triggered by switching the computer on and off a few times.
You can open power supply case and visually examine for any burn marks or defective capacitors.
Try unplugging raid controller and see if the system loads bios.
If that doesn't help try several combinations of memory modules -- the system probably doesn't have ECC memory and that might be causing problems.
If that doesn't work, It might not be worthwhile diagnose the error, because you will need: