Does that board have jumpers on it? If so make sure the FSB is correct for the chip you're trying to use.
As for the 1600 in a board that currently has a 700mhz duron - check the board to see what type it is then check the manufacturers website and see what BIOS (if any) added support for that chip.
Also on the NF7 system - make sure all cables are connected - specifically the 12v 4 pin power cable to motherboard.
You may have actually added to your problems by taking it out of it's original case because you introduce things such as loose components, electrical shorts, disconnected cables, etc. Try booting outside the case with just CPU, RAM, Video to see if it POSTs or not.