|It's hard to know for sure you've found the problem until you get it going again.|
Yeah, beeps are better than no beeps. That usually means the power supply is providing all the voltages at sufficient amps so it likely is good. It's a good sign for the motherboard too but you need to check its beep codes to see what that particular beep sequence means--usually one short beep is normal. You need a compatible cpu, ram and video card to see if it does post.
I don't know if it's mentioned in the links in my post above but often the capacitors on a motherboard go bad. They start to leak and get a puffy look to them--kind of like when you leave a sode in the freezer. Bad caps are probably the second most common cause of motherboard failure, next to a bad power supply frying the motherboard.