OCn00b said:
It got farther that time. It's now hanging when it tries initializing the hard drive controller. Could it be a bad hard drive?
It could be a bad hard drive, or bad hard drive cable, or lots of other things.
When you have a system that won't boot, the best thing to do is simplify the system. Remove anything and everything that isn't necessary for the system to just boot. Strip it down to this: PSU, MB, one CPU, one stick of memory, video card. Nothing else. Unhook every other data and power cable. Make sure that you have the ATX and the +12V cabless plugged into the motherboard, but none of the Molex connectors should be hooked to anything.
Set the FSB to 100, clear the CMOS again, just to be sure (you need to unhook the PSU when you do this, BTW,) and then try it again.
If it NOW boots, then go into the BIOS, make the changes to the memory settings and save and exit. Then, shut down and start adding one component at a time. You may find that the whole problem was one cable that was hooked up wrong or just a bad IDE cable. You never know. The best thing to do is simplify, then add one thing at a time, until you identify the problem.
P.S. Are you SURE that your CPU is good and your heatsink is making good contact with it? If it's not, then your CPU is dead and you would have problems if your CPU is dead.