The first thing I'd check with any computer of this era after the power supply is the CPU clock generator and reset line. While not a PC, I've fixed a few Gottlieb arcade game boards that are 8088 based and more than once I've found a bad octal bus transceiver, the 8088 has a multiplexed address/data bus so if the chips that handle this are bad, not much will happen. If that all looks good, you might have bad RAM or a bad BIOS ROM.