So I'm this old Athlon XP rig that I've brought back from the dead and is currently a work in progress. These old computers use power differently than modern ones; modern PSUs draw mainly from the +12V rail, and thus modern "ATX12V v2.x" PSUs are designed to deliver most of their power on the +12V rail. Older systems draw mainly from the +5V and +3.3V rails, and so "ATX 1.x" PSUs are designed to give at least half of their power on the +5V and +3.3V.
Well this old system needs an ATX v1.3 PSU, but I don't have one on hand so I'm using an ATX12V Antec Earthwatts EA430 until I can pick one up. It's a group regulated unit, so when under a heavy +5V/+3.3V load the voltages go a little wonky. The +5V runs at ~4.80-4.85V and the +12V runs at 12.43-12.55V. Not dangerous, but close to the edge of what the ATX specs allow.
ANYWAY, I decided that an old computer should have an old keyboard, so I've hooked up my Model M to it. And it's funny; one time in three on starting the computer, it will halt on POST and say "Keyboard error; no keyboard detected".
Now I know some motherboards don't follow the specs as closely as they should. But this is an Asus A7N8X Deluxe, and Asus, in my experience, has been pretty good about that, even on modern mainboards. I've tested my Model M on three different Asus mobos, and this is the only one with issues.
My theory is that since the PS/2 port is powered off the +5V rail, the low voltage is causing the Model M to not start up properly. It's getting power; the LEDs light up. But I'm guessing that maybe the voltage isn't rising quick enough to make the keyboard work in time to send its ok signal to the motherboard.
Sound plausible?
In any case, I'm picking up a Zippy 300W ATX v1.3 PSU soon, as well as 2x512MB DDR to replace the current 512+128+128.