First off, thanks to
@jmacz for the repair work on this board. It's in WAY better physical and operational condition than when I first got it.
After a busy week at work I finally had a chance to spend some more time testing this board.
From a cold start (ie no power for over a couple hours) in 70F/21C weather , the board turns on with soft power and gets no chime and no display.
However, after I leave the board powered on for ~5 minutes and reboot it, I get a chime, grey screen, and blinking question mark 100% of the time I tested this. Any subsequent reboot thereafter instantly produces the chime/grey screen. Sample size of about 15 over 3 days. Trying an 8500 PSU produced the exact same results.
Anyone have further ideas why a cold boot could lead to the symptoms noted above? Once the machine boots to the grey screen when a SCSI2SD is attached, I can load Mac OS successfully and everything works great.