PC will not boot up past the Compaq Welcome logo

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Regarding Pc will not boot up past the welcome Logo screen. Prior to this it would not start up at all, but would eventually boot up by turning the computer off and on several times. I know it's not the hard drive because I have put the Hard drive in another older computer and all works well. I suspect the CPU or motherboard, but don't have a clue where to start. Or which would be the best to start with.

Compaq with Intel Celeron 2.66 proccessor
Micro Star Motherboard
256 Memory ( Memory is ok tested in another machine)
 
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