yes the black and red wire go to the power button on the motherboard.
ignore the pw70 wires.
plug the pw70 into the mother board. plug the itps into the pw70, plug the itps into the battery, ignition power, and ground. also plug the itps into the motherboard power button switch. what you might want to do then is (if you are using the m10000 and c134 case) hook up the power button on the case to the reset switch on the motherboard in case you have problems and need a reset. kinda sucks when you have to turn the car off to reset the computer. heheh