Normally, under the circumstances you described, I would say that you need to pull and reinsert the video card a few times because it is not seated properly. This is a "known" issue with both the AGP and memory slots and that MB. However, since you said, "Edit: Under further investigation i am also not getting any beeps.. even when i pull all the memory.", I'm not sure. It would be worth a shot though. I'd pull both the video card and the RAM and reseat them a few times, making sure they are firmly in on each occasion. Next, I would pull everything out of the system except the video card, RAM, floppy and CPU w/HSF. Unplug power to any optical drives and remove all pci devices. Then try to boot the system. This is AFTER reseating the components I mentioned earlier.
Now, since you pulled the RAM and still did not get any beeps, that would tend to lead one to either the CPU or the MB. Until then, try the above items. If those fail, try the cpu in another board or have it tested at a local shop. If it was a known working cpu in another system then see if you can beg/borrow another one to test in the MB. BTW, what PS model and make are you using?
Now, since you also mentioned, "it would be a lot of work to swap everything over into a new case.", I would suggest that you remove the MB from the case and place it on the anti-static bag it came in on a flat surface next to the case. You should be able to hook up all necessary cables to operate it from there. This is a standard troubleshooting technique and certainly easier than putting everything back into a new case.
BTW, did you confirm the HSF was plugged into the MB header correctly? And last but not least, what revision of that board are you using and what CPU? If you are using an XP processor, did you happen to notice if there were a couple of small stickers that say "XP" around the cpu socket?