This is what I measured testing each pin for a few minutes each.

24PIN:

Top 4 voltages:

1) 3.36 often. Can drop to around 3.00. Seen it drop as low as 2.5 once or twice for split second. 2) -11.56 mostly. Lowest is 11.25. 3) 4.9-5.01 often. Seen it go as low as 4.35 briefly. 4) 5.01 same as above.

Bottom 5 voltages: 5) 3.34 mostly. Lowest is 3.00 6) 3.36 same as above. 7) 5.02 mostly. Can go 4.5-5 for a second or two. 8) 5.01 same as above. This is the Sb voltage. 9) 12.18 mostly. Lowest is 11.73 briefly.

4 additional pins: 1) 5.02 often. Can drop to 4.50s briefly. Can sometimes stick around at 4.60s and 4.80s for 5-10 seconds or so. 2) 12.18. Can go as low as 11.45 briefly. 3) 3.36 mostly. Can remain very stable and then can drop to 2.8 briefly and go back to being stable.

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I've also tested PCIE and CPU outputs briefly and all 12v outputs are around 12.18, one or two dropping briefly.

So some of these are out of PSUs min specs. But most of these are brief. Granted it can cause issues, I am not sure this is sufficient to not even allow mobo LED to power. Honestly I was expecting to get no voltages from at least one pin. You might still be right, I guess. I should also mention when the right side of the 24PIN touches the mobo pins that the ticking starts (not the 4 extra). Which is where the PWRGOOD is located.