Hi there,
Question 1: Yes you really need to use both connectors of the EPS connector from the PSU. These plug into the 8 pin socket near the CPU.
Question 2: The QVL memory list isn't always up-to-date and you are often better off checking at the RAM Manufacturer's website for compatibility.That said, if you know the RAM Module is fine in another system it should still work.
Question 3: The obvious thing to check would be is the CPU supported by the BIOS. If you have a rev 1.0 or 1.3 version of the motherboard it might not have the F5 or later BIOS needed for the Athlon 255 processor. This would give the same result as you are now getting of the system failing to boot. If you have a rev 1.0 or rev 1.3 motherboard (you can find the rev no printed on the motherboard usually somewhere near the bottom left hand corner) then you would need a CPU that is supported before you can update the BIOS.
Do you have a motherboard speaker attached? If you do what, if any, POST beeps are you getting. If you haven't attached a motherboard speaker then this would be the next thing to do as the POST beeps can really help when it comes to trouble shooting.
Question 4: Stick with the Corsair PSU.