crew cut 0 Newbie Poster

I have a Compaq Presario desktop PC model SR1053WM, and it has one of those power supplies that has a little green indicator light right on it, on the machine back. One day that light started flashing and the computer will not turn on. I found a good page about the syndrome at http://h10025.www1.hp.com/ewfrf/wc/document?docname=bph06788&cc=us&lc=en&dlc=en&product=428539&dlc=en&lang=en but that didn't help all that much -- suggesting that I get the PC serviced. If I understand that cited page correctly, the flashing green tells me that the power supply itself is OK and that it must be another component causing the fault, like the processor, PCI card or hub, memory or hard drive. I can get a replacement power supply for $57 shipped, supposedly, here http://www.atxcases.com/item.asp?id=1643&desc=compaq-presario-sr1053wm-250&referid=162164. What should I try next to diagnose this? I yanked the power connector at a hard drive and put a multi-tester to some of the pins, randomly, looking for DC voltage. I believe I should see 3.3V or 5V or 12V, if I read the power specs right. All I got was some near-zero readings from my silly digital meter (yeech). Any ideas, please?? Many earnest thanks for considering me :'(