Yeah, I'm getting more and more the idea that almost every part can prevent the whole machine from turning on when not working or plugged in correcty. Best way is to check all parts and connections before ordering replacement parts.
In my case, LED1 stays on when pressing the power button, but nothing happens. Only thing I tried so far is removing the RAM from the slots, but the machine still wouldn't turn on. Next thing I'm gonna try is opening up the machine, remove all built up dust and dirt, check all cables and connections and then replace the power supply. I will check too whether I can turn on the machine by pressing the two pins of the power button with a set of tweezers.
Looking forward to this game of trial & error already!