skit75 :
I don't know what you are going to find with a "meter" other than your +12V is at +12V, 5 is at +5V and 3.3 is at +3.3V. .
How to provide numbers for assistance from the fewer who know how the entire power system works:
Restore everything as when the computer worked. AC power cord connected to a receptacle. Computer not on. Set a digital meter to 20 VDC. Attach its black probe to the chassis.
Locate a purple wire (pin 9) from the PSU to where it attaches to the motherboard. Use a red probe to touch that wire inside a nylon connector that attaches to motherboard. If necessary, make that connection using a needle or paper clip. It should read somewhere around 5 volts. Record that number to three digits.
Next, do same with a green wire (pin 16). Then press computer's Power On button. Monitor how meter changes and what it eventually settles to. First number should be something well above 2.6. Second number should be something near to zero, Actual numbers and time to change (behavior) are relevant.
Repeat same to a gray wire (pin 8). Note a higher starting voltage, a lower final voltage, and its behavior. Report those three digit numbers and behavior.
Setup computer to execute as much software as possible. IOW it should be outputting sound loudly, while searching the disk, while playing complex graphics (ie a move), while powering a USB device, while accessing the internet, etc. Having it access many peripherals simultaneously is important. If it cannot power up, then monitor any one red (pin 4,21-23), orange (pin 1,2,12 or 13), and yellow (pin 10 or 11) wire for what each does as and after its power button is pressed.
Report all three digit numbers from those six wires. Next reply will identify or exonerate suspects.
BTW, if wires are not colored, then a PSU may not be ATX Standard. See www.smpspowersupply.com for color and pinouts.
Why would spikes on AC mains end up on a PSU output? First thing a PSU does is convert the incoming 120 VAC into well over 300 volt radio frequency spikes. If 300 volt spikes do not appear on 3.3, 5, and 12 volt outputs, then why would AC mains spikes appear there? They don't. Many only recite popular myths because many do not know how a PSU works. Do not even know of 'dirtiest' power intentionally created inside a PSU before its superior regulators and filters clean that 'dirtiest' power.
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