Yes, i'm sure it's the 1230IV ( is stated on the board itself) and you're right is 1230/50... my bad :-D
When i power on the Powerled lights up, and stays on, it does not blink.
As for the PSU being not strong enough i tried earlier powering up the miggy with only the Bliz, i removed the FD and HDD... and no luck... same black screen.
I don't know if this is prove that the PSU is powerfull enough for the Blizz, but i hope it isn't... and that i just need a new powerfull PSU.
P.S. My PSU is 20w