Continuation of "Blinking power switch" problem

Ok, so this is where I'm at.......I installed a new power supply, and found that I still had the same problem as befor "Blinking Power Button". So upon the advise of one of our XPS kindred I disconnected power to all drives, removed memory, video cards and sound card as well as the TV tuner. Then powered up again with no change. There is a very small led that lights up on the mother board, however there are no sounds, no beeps, no indication that the power gets any farther into the motherboard than the light itself.

At this point I started to look over the motherboard, and I suppose that I wasn't seeing the swollen capacitors, or the apparently melted, I don't know what the component is however it''s shaped like a doughnut with a wire that wraps around it, evenly spaced.

I purchased this system on 10/12/05, obviously quite the antique by "XPS" or any other standard, now I need to upgrade the mother board, does anyone have information how to do this .....?