@true light:Burn the iso and boot it from the BIOS (try f12, esc or similar to get a single boot option or go into setting and change boot settings)
To the OP, you can't run memtest at all (since your computer won't boot) and it doesn't sound a thing like a RAM problem to me.
The PSU isn't too bad and from the sounds of things you weren't running extreme hardware (coolermasters aren't the best but they are a nice cheap alternative that won't explode like Shaw

)
It sounds very PSU/Motherboard based. Do you have friends with custom PCs? If so go over to their place and use their PSU with your parts, Skip all non essential part, IE only have the Mobo, CPU, (your friend's) PSU, a stick of RAM and a graphics card if your Mobo doesn't have onboard. If it still shows hte same problem, it's going to be harder since you will need to test the motherboard and that means finding another motherboard that fits you PSU.
Report back and good luck.
EDIT: well probelm solved then, go for something decent this time, for recommendations post your specs.