Mesa 7i97T Flashing /done & PWR

I tried turning on the cnc today to find that it had no connection to the PC. After opening up the back I noticed the /done and PWR leds were flashing.
I have verified that the power supply is outputting 5v when disconnected from the mesa. I then disconnected everything from the mesa (ethernet, and all I/O) When power was reconnected to the mesa I measured less than 1v.
Is this a short caused by a power surge? Or did the firware get corrupted?
Since the pwr led can't stay solid I haven't attempted switching the jumpers to the fallback firmware.

Any tips on what to check next?
Do I need to ship this out for repair or replacement?

Flashing PWR lights usually indicate a marginal 5V power supply
It could also indicate a short on the analog outputs.
(if there is a problem with the analog outputs, the 5V power drain
will increase suddenly once the FPGA is programmed and analog power enabled)
 

The powersupply was the problem. I am glad that it died instead of my mesa.
I should have tested that yesterday instead of assuming that 5v no load meant the power supply was good.
Thank you for the quick response as always!