As a follow up and to let anyone reading this know where I am and what is working.

I found the P1 yellow wire had come unsoldered from the board somehow. I soldered that back to P1 and put a new power supply in and got all 3 lights.

I then put back all the cards back into the unit and the unit powered up as expected. I thought excellent, it's time to put this beast back into the rack and play some music. Wrong...

Opened the CD/DVD tray, put in a CD and "spin, spin, spin, spin, spin for 1-2 minutes". The old failed drive syndrome as well. It's too bad these units are so incredibly fragile and unreliable. I think I have an extra DVD Drive in the closet I can try. Hopefully it didn't "go bad from sitting new in the box.

**EDIT - I decided to try many discs. No CD's can be read however DVD's are being read fine. Very strange.**

McIntosh MX135, Marantz Cinema 40, Meridian 800v2, ATC Active Speakers, McIntosh MC7300 amps, Panasonic DMP-BDT500 3D BDP, Panasonic Viera 55" VT60 Plasma TV, Monitor Audio Studio Atmos Speakers, Parasound 1500amp, Emotiva 7 channel amp, HTPC running JRiver streaming Movie and Music library over HDMI.