What did you do to solve this problem?
I'm having exactly the same problem with exactly the same setup.
T-bird 1.2 (266), CoolerMaster DP5-6H11 heatsink/fan, Crucial PC133 CAS2, Enlight 7237 case, ATI AIW Radeon.
When I power on, 4 red LED's come on, it switches to #1 green, then #2 green, then...