The long delay after the extended powerdown sounds like the PRAM battery
I haven't checked the PRAM battery yet, but that's another possibility.
My Wallstreet's PRAM is dead and the brightness buttons do not work under 10.4, oddly enough, the volume buttons do.
I have no control over the brightness, and volume on either HD.
It's most likely that the System installed on the HD is simply not capable of booting a Wallstreet.
Perhaps. I was under the assumption that the 20GB IBM drive was dead, since I would hear it spin up, and down (and that delay didn't make a good first impression, either). I can swap the 40 with the 20 again, since that one has all of the drivers for the G4 card already installed, and has the latest version of Jaguar (if that makes a difference).
Did you try starting it up with extensions off?
No, but I'll give it a try later tonight.