Dave,
- First thing that I would try is to make sure that pin 1 on your floppy lines up with the pink edge of the cable. If the light on the floppy drive is always on, then the cable is backwards.
- Then I would make sure that the floppy that you have is bootable. Try it in another machine to make sure.
- If both of those fail, then I would try another floppy drive.
If all of those fail and it is set to boot off of the floppy first, then you more than likely have a bad FD controller on the MB.