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With fuse in place, still cycling PPBUS_G3H?
Check if 3V3_S5 appears at same time.
Check siode mode to ground on all big coils.
Also check if starts in SMC bypass mode.
SMC bypass mode: high speed fan, but still on and off
PPVCORE_S0_CPU is cycling between 1.1v and 0v [diode mode to ground is 063. Known good is 059]
PPVCORE_S0_GFX is cycling between 0.86v and 0v [diode mode to ground is 139. Known good is 067]