Replaced cap, no worries.
PSU starts up and runs a sacrifical hard disc for a few minutes.
Power off, connect a second hard disc (for more load) and ran it again. No worries.
Put it back in the PC case and the fan spins but no action at all from the PC - no beeps, no blips on screen, just silence except the PSU fan.
So flick the power switch back off. Then I wanted to see if a motherboard short was causing the PSU to cut it's output (multimeter probes I had on hand had too short of a probe), so while it was OFF I connected a hard disc - then sssssssssssssssssssssssssss and smoke starts pouring out of the PSU (pretend the air vent is a steam engine funnel). Took about two minutes for the smoke to stop dribbling out.
Figuring its the other A/C cap which is harder to get to. But will be waiting until my other gear arrives in two weeks so that I have more bits to test with.
It is rather fiddly working in there because the two boards and power connectors are all soldered together - and you can't remove the rear connectors on this model because the screws were shaved down at the factory for some reason. So *may* just send it to an electronics reparier.
386 coming down has either a dead PSU or dead motherboard, if it's the motherboard then I'll have a good donor PSU (as another option).
Edit: well tonight's mission is to fix that SVGA I posted earlier. My degauss wand has arrived, and while it looks like an 1400W mains-power-lady-pleaser, I'm sure it'll do the job well
