That's the oldie. To begin with the obvious: are the battery contacts inside the handle clean? Are the external contacts where the drive+body connect clean? Is the camera battery good? Are your AAs good? Is the switch around the shutter release lined up to the white mark on he body? Is there film in the back? Is the drive properly attached to the body?
All the contacts look clean. Both the AAs and the battery inside the camera body are fresh, I purchased them especially to use with the camera. And yup, the switch around the shutter release is lined up to the white square mark. As far as I can see, the drive is properly & securely mounted to the body. No film in the back, as I'm looking to test the camera's functions fully before loading in film (that's an excuse, I just like to dry fire my cameras, haha).
tkamiya: Thanks very much for your tip on how to clean the contacts and also for your feedback, very helpful.
That being said, I'm happy to report the power drive N has come to life! I don't know what went wrong or exactly what I did to make it power up. After reading tkamiya's comment, I removed the batteries again and made sure the polarities were right on and that the contacts were clean. Positive to both. So after that I secured the batteries inside the winder again, then remounted it to the body. Turning the switch to B.C, the red LED came on! Woot! Swithced it to Start and then 'ON', everything worked as it should. But man..is that thing loud...
My best guess is that one or some of the batteries were not seated properly in their holder.
Thanks CGW & tkamiya!