If you turn the off, make sure its completely off, unplug from the wall and plug back in. If you hold down the "option' key on bootup, does it go to a load screen to choose what OS you want to boot into? Maybe its something wrong with the Windows partition thats locking it up as it keeps trying to boot into Windows. If not that, schedule a Genius appointment at your nearest Apple store and let them have a crack it.
Nope, that was one of the first things I tried. It seems as though the machine is effectively "brain-dead". It won't boot in any fashion whatsoever -- the only response I can get from it at all, is when I continue to hold the power button as it turns on, and get the 9 or 10 rapid flashes of the Sleep LED. This is where it would normally apply the EFI update, but that doesn't happen -- it just continues to sit at the black screen, no response to anything else. My guess is the EFI/firmware/BIOS/whatever you want to call it is toast, never properly updated, so the machine lacks the code necessary to actually attempt to boot.
I own a newer iMac and Mac Mini myself, among a few PC's which I primarily use now... glad I've never run into these problems... And though I've done several before, I've always avoided doing BIOS updates for this very reason. Figures the one time I actually do one and it backfires, it's a friend's machine. Grrr.