you DOUBT it is that... just because the psu is brand new doesnt mean JACK CRAP!!!
anybody who has built a few computers will tell you that not all parts work 100%. You are more than likely to get bad parts.. for example, out of the three i have built (me, my friends, and my cousins), only one of them was succesful... the other two (mine and my friends) were the bad ones.. i received a DOA psu and he received faulty RAM. both were good brand names and bought right off newegg. my psu was an Antec and his ram was Kingston... so just because its new doesnt mean anything....
does that motherboard have onboard video? if so, take out the vid card and put the vga connector in the mobo to see if you get video that way.. if it doesnt work, you have ruled out the video card as a problem and are left with the mobo/psu. Im backing Rico up when he says to get a temp swap.
EDIT: What is the wattage on the psu?
~Static