hp and compaq have been using custom ASUS boards for some time now.

I like geoscomps suggestion to pull the battery. it might also be prudent if possible to pull everything and remove the board from the case and try to run it on the bench with just video ram and pocessor.

see if you can get the sucker to beep if you yank the video card and power it on, same with RAM. that will give some indication of whether the processor is okay.