Is My H340 Really Dead?

My H340 has been working great for the past few years with only one reinstall due to a failing of the OS drive. Now it's down again and I can't seem to get it back. Would appreciate some advice as to whether I should throw in the towel or buy more parts to see if I can get it back up and running. Here are the symtoms:

• If I turn it on with the drives installed the hard drive light comes on for a few seconds and then only the power light stays on. None of the drive lights or network indicator come on.
  
• Tried to do a recover/restore (moved the drives over to my PC and backed everything up first) but when I hold in the reset button and turn on the power the red "i" never flashes and the network light never comes on (held for over 10 minutes).
  
• The network lights by the network adapter in the back don't blink when connected to the router. The cable and router check out OK. Aren't these always on even before the system boots?

At first I thought that it might only be the NIC but wouldn't it still boot if the NIC was bad? Anything else I can try? The only other option I can think of is to build a cable so I can see what's going on. Does this sounds like a complete failure or would it be worth going through the trouble to get the VGA working?