Quoted from Ronnie1114:I'm talking about the small blue thing above the power board.
Those are tantulum capacitors that go to the 5 volt regulator. Quite possible your regulator is shot (lm323k I think is the part) . if they smoked they are bad. What I typically do with a new machine is unplug all of the connectors on the power supply and then turn on a measure the voltages. Of course if the regulator was bad , you would still get smoke
Great find! I love my cyclopes.