||07-13-2012 07:36 PM
I have heard this is caused by blown capacitors on the motherboard. There are some articles out there concerning replacing capacitors and getting them going...it's hit or miss. Open up the case and look for bulging capacitors and replace them. Capacitors are usually pretty inexpensive..around $1 each depending on where you find them. if you replace about 10 or so of them you MIGHT just get lucky and get it working...depends on if they damaged anything else, like expensive chips.
Remember the Xbox is a Microsoft product, and like anything by them, it will have flaws!