The hour long wait is a clue there is a hardware failure. If this is for some home media server I'd ebay this off for 99 bucks and get a working 99 buck desktop. Woot.com has them on/off all the time and they arrive ready to run.
I have a Dell T100 server. I am having an issue with this server that I was planning on using for a media server. There is no OS installed. When I plug this server in it comes on and runs. It will not recognize my keyboard or mouse. I have vga video giving me boot options. The problem is when I hold the power button down it will not cut off. The only way I can get it to go off is to unplug it. The after I unplug it I can not get it to come on again for about an hour by plugging it in directly again. If you try to plug it in before an hour it will not come on. But after an hour it will fire back up and go back through what seems to be normal boot. Any help with this would be helpful. I dont think it is the power button though. I have also removed all cards and components and it still the same.