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This 2009 motherboard is long out of warranty and not repairable.
The only thing I would try, despite all the shorting you have done, is to use another power supply. I know you have measured some of the voltages, but still....
It may be time to get a newer/current board...
Thanks for responding Al. A new PSU would be a good idea for a final cost-effective check, with a longer term plan to upgrade to a newer MB and processor. Useful to have a third party challenge my implicit assumption that Intel MBs last forever
Wings_Mackenzie, you basically have done a thoroughly troubleshooting, the only thing I would mention and it was also mentioned before, is to test it with power supply. So, if you do please let me know, I am interested in those results.
Have splashed out on a new power supply (same rating - 850W). And the MB powers up!
An old power supply would seem to have been the issue (I note that the green standby power LED is now emitting a steady green light rather than a flickering one, which may be a symptom others might want to watch out for).
There may be other issues to resolve, as the power-up does not appear to occur reliably on each occasion the power-on switch is applied but progress has been made.
There is a blinking white LED close to the Onboard power switch (above the green standby power LED when the MB is mounted in a PC) but the documentation doesn't describe its function.
The DP55KG board has a couple of bling features. This includes the LEDs for backlighting the Intel Extreme ("Skull") symbol, the LEDs in the Skull's eyes (which can blink with disk activity) and the white LED that you are referring to. The operation of all of these LEDs is configured in BIOS Setup within (I believe) the Power configuration scene.
Hope this helps,