Correct. Pulsing front LED is during startup. Once the MC200 is up and running, the LED should be solid on.

Source: Meridian MC200->MS600->PS Audio DS DAC
Linn Sondek LP12 Radikal Kore/Kuzma Stogi S/Soundsmith 'The Voice'
Phono: PS Audio GCPH
Pre: Wyred4Sound STP SE
Power: Krell FPB200
Speakers: Thiel CS2.7