My PC wont turn on

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The other day I bought some new bits to upgrade my PC with, installed new Mobo and cpu, fine, tried installing new GTX 295, but dont have enough qualifying molex connectors to run it at the mo (lost them) Powered up, worked fine reinstalled vista etc. I then tried to fit my GTX 295 again, with no luck so reinstaled the 8800 i have, tried to power, worked fine, then I smelt a burning smell, near the Dimm slots. Tried to power on again, nothing. My Mobo has LED's on it one red (power from PSU OK) and a green/blue one, to indicate that its running. Only the red light comes on. However if i wiggle tho 20 - 24 pin atx connecter, the blue / green led pulses, the fan spins a fraction and the PSU clicks with the pulses. Tried my other MOBO and same thing happened, powered on, then burning smell, now dead! any ideas.

My Specs are

700w jeantech storm PSU
Intel 8500 dual core
MSI p7n sli LGA 775 1333mhz nforce 750i MOBO
DDR 2 800mhz dimms (4 x 512mb)
BFG 8800 GTS 320mb graphics upgraded to XFX GTX 295
 
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