Just throwing out another idea, have you tried replacing the GPU? When I tried flashing several GPUs I got this exact same behaviour with cards it didn't like (e.g. PC GPUs that need specific pins disabled, or PC GPUs that it was disgusted by). As soon as I removed and replaced them with a good GPU it booted as normal. Perhaps if your GPU has failed it's not happy about it, Otherwise maybe something could be wrong with the AGP port?

