Well well. The server parts finally got here today. Put it together and tested and it ran fine for 10 seconds after which a bang could be heard and the system died.. Smoke emerging from the PSU. Oh great..

Tried running with another PSU (from my "own" desktop) and it didn't respond at all.... So I'm guessing the motherboard died as well.

So now I'm looking into the return procedure for the store I ordered the stuff from.

Bottom line is that the server is still running on the old hardware until this issue is resolved. I'll keep you all posted when I have more information.