Well the SE power supply hack worked GREAT! The IIcx boots just fine less startup chime. So a re-cap is in order for the Mobo to fix sound, etc. I am really surprised how fast it boots with 128MB of RAM. But MODE 32 is needed, I think...

So the power supply is indeed an issue. I can not rule out that in some way the startup circuit is bad on the motherboard though and that the power supply needs a greater load to properly power up.

By the way, check out these. I love finding stuff like this on un-erased drives