I've been measuring the black/blue caps, but havent found a bad one.
The cap that was faulty was actually the same one as yours
What I do to bypass the smc, is I unplug the power, press and hold the power-button for 5 secs and then insert the powerplug whilst keeping the power-button pressed. Then I release and press the power-button a second time.
That causes the board to power on and the fan(s) start spinning at 100%.
It's a similair method to how it works for my macbook pro 2010. So my guess was that this method bypasses SMC, as the fans spin at 100%.
IIRC, that's firmware update mode. It should be safe since it stores a backup of firmware to load if the current version fails.
I'm wondering if your CPU is OK. Be careful removing the heatsink, since there are MANY reports of breaking the nylon clip pins that hold the heatsink to the motherboard. There is also a temperature sensor attached to the heatsink via a short cable to the motherboard. Have you upgraded the CPU at some point?
I really wish I could find the (ahem) 'schem' for this board.
EDIT: You should be seeing 18volts across the pads of the capacitor you removed.