Powermac g5 logic board or power supply?

So I picked saved a powermac g5 from being recycled. The guy recycling it basically knew it wouldn't boot and didn't feel like putting the time into trying to fix it. From what I can tell using the Mactracker app it is a 2004 g5. The problem is I cannot get it to boot, let alone pass POST. At first I thought it was simply a RAM issue due to power light blinking in intervals of two. However after reseting the RAM now I have no power light, and the machine still will not boot. I reset the PMU and have replaced the battery on the logic board. I have cleaned it for dust and have been careful to neutralize any static charge by touching the case before digging inside around the computer. However I have gotten it to pass POST by reseting the PMU, but it seems to be fairly sporadic; out of the countless times I have made changes and tried booting it has only passed POST twice and didn't get any farther than that. My best guess is that it is either a failed logic board or failed power supply. I am leaning towards the power supply, any suggestions?

Could be either and an honest answer is it is not worth spending anything on alas! As it has booted twice sounds like the logic board.