Power supply or logic board failure?

[Entcrusher]

Yesterday the whole town lost power for 6 hours. After power came back up my iMac wouldn't start.

EMC # 2210, 2008 iMac

I've tried everything. Including holding the power button, while unplugged, for a minute then still holding, plugged it in. Still nothing.

I took off the case to look at the LED's and only the 1st one lights up.

Only thing I've read about the LED's is that if the 1st one is on, then the power supply is getting good power. If the 2nd one flashes or stays off (stays off in my case), then power supply needs replacing.
How does this work? As the 2nd LED is for the logic board isn't it?

Anyway; 1st LED on. No others turn on. Do I need a new power supply or a new logic board?

Thanks

 

[senseless]

Tough call. If it was a surge, it's probably the power supply surge protection that fried. But if the logic board is in failure mode, it may not permit the power supply to come on.

 

[Entcrusher]

Well that's unfortunate...

I decided to get a better look at the psu before I ordered a new one. I have no idea what I'm looking at/for besides busted and leaking caps, so this looks fine to me... Though it is a little discolored on the board side. Are you able to tell if it needs replaced or is okay? Or just not possible to know some times?

http://imgur.com/n2Zd0aF
http://imgur.com/o0zGjr5
http://imgur.com/SUEKbTp
http://imgur.com/5tOXgEA

I'm not sure I want to deal with a new logic board...