Now my house smells like a nail saloon.
To avoid having my brain cells destroyed, I've retreated to the garage and voila! I found a spare PSU.
I think this one has a flaky harness though. Whatever, pin 8 on this one is a SOLID 7.?v on my DMM. No wavering or floating or whatever. Shorted the appropriate pins and I got a nice solid sounding fan. Did a test swap and the server powered right up.
I guess my trouble shooting is over. The PSU probably burned out. I'll toss it into my junk box and take it apart to see what burned on the board. Maybe I can learn something from it.
least an analog meter?
Wait... did you mean an analog multi-meter? The kind with the needle and a mirror? Yeah, I have an old Radio Shack one. I used it before I got the DMM I have now. I think I still have it in my tool box. The front plastic is scratched to ---steaming pile of meadow muffin---, but you can still read the needle. I thought you meant an analog scope, the kind that used a XY monitor.
What would an analog multi-meter tell me that the DMM can't?