"+5 V Standby" is provided by a separate voltage regulator, which continues to work even when the PC, including the rest of the ATX PSU, is shut down.
"+5 V Standby" typically can provide up to 2 A, i.e. up to 10 watt, though some old PSUs may be able to deliver only up to 5 watt and some of the bigger ATX PSUs may be able to deliver up to 15 watt.
Besides supplying the Ethernet cards, to enable WoL, "+5 V Standby" can be used by the USB ports if configured so in BIOS, to enable waking the PC with the keyboard, or to enable charging from USB even when the PC is shut down.
I also finally found this old page of using an old dev board to construct a WoL listener for a mobo that didn't support it -- might be an interesting read for the curious: https://web.archive.org/web/20140525022112/https://hackingbe...
> In this script a fifo is created where the output of tcpdump is dumped. For whatever reason tcpdum | grep was not working properly, and would have a “miss” rate of about 50%. So tcpdump output is dumped in the fifo:
>
> tcpdump -i eth1 2>&1 | tee > /tmp/tcp_wol.fifo &
>
> and it’s grepped in a loop, when the magic packet (see http://en.wikipedia.org/wiki/Wake-on-LAN) is found , a led is triggered, thus powering-up the computer (with a driver and relay, will come back at this).
One thing I noticed is that if I connect to a gigabit upstream port, that the connection drops to 100 mbit/s when the computer is off, but if I connect to a 2.5 Gbit port, it stays at full speed. This is based both on LEDs on the connector as well as the OpenWRT dashboard on the router. If it made a difference it was too small to reliably measure with my simple meter.
If it makes a difference (potentially does for conversion losses I would guess), this is on 230 V mains.