Computer. Dead. Help

We apparently had about 3 or 4 quick power cut-outs last night (off, then immediately back on), so I’m guessing that’s the reason my other computer doesn’t show anything when I turn it on.

It’s an old P4 2.66GHz. I usually just leave both my computers running overnight… My newer AMD 3500+ doesn’t seem to be affected.

I turn on the P4, I hear everything fire up (HDs, fans), but I hear no beep, no floppy-drive search, the monitor detects no signal, and both the power and HD activity LEDs stay on solid - which isn’t normal.

My gut feeling is that the mobo is fried… How can I check?