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I had a similar problem with no power up, fans full speed, drive LED on, on two different first and second generation boards, but both had the same brand of power supply from be quite. In my case the problem turns up from time to time, sometimes weeks between.
The solution was if this happens to switch off the power switch on the rear of the power supply or cut the mains for at least a minute. Then switch it on again and it will start up fine. I think the problem is more the power supply, not the board.
Hmm might try swapping out the PSU then next time this happens. We've got a few spares in a closet here.
OK, let us know the result.
Sadly the spare PSU's we had lying around did not have a 2x4 12V connector. No cable adapters for it either. Any other simple way to test whether the PSU is the culprit?