It probably is the power supply, it probably is kicking out enogh power. I had a problem like that with my computer. It started with Windows freezing up after 5 minutes of use. Then eventually it wouldn't boot at all, but the the cpu and case fans were working. If you have a multimeter, check the voltages of the power supply(remember to leave the connections going to the mobo intact). If you dont hace a multimeter then I would just buy a power supply(being that you will probably need it down the road anyway, if it isnt the problem now). Dont be cheap on the power supply or it wont last long. Go ahead and spend $60 on a 350-400 Watt power supply. It is well worth it.
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