I would say your problem is the CPU, if you replace the CPU you still may have quirks in the system but it will boot. It's odd because I had the exact same issue before Xmas.
Check out this link, http://68kmla.org/forums/viewtopic.php?f=13&t=11749 you'll see a pict I took of my burnt out processor. It looks like the same processor out of the pair burnt out. The white border around the processor is supposed to be the same colour in both pictures in the corner the white has been turned brown or rust coloured. I bet if you look at the underside of the heatsink you'll see some of that colour transferred to the heatsink. 1 of 2 of those processors is pooched.
I replaced the CPU daughtercard and was able to get a working machine. If you have a dual 1.0ghz you should be able to swap cards from another dual 1.0ghz, a single 1.25ghz and probably a dual 1.25ghz.
If you read through this posting you can see the problems I still have http://68kmla.org/forums/viewtopic.php?f=2&t=13414
Check out this link, http://68kmla.org/forums/viewtopic.php?f=13&t=11749 you'll see a pict I took of my burnt out processor. It looks like the same processor out of the pair burnt out. The white border around the processor is supposed to be the same colour in both pictures in the corner the white has been turned brown or rust coloured. I bet if you look at the underside of the heatsink you'll see some of that colour transferred to the heatsink. 1 of 2 of those processors is pooched.
I replaced the CPU daughtercard and was able to get a working machine. If you have a dual 1.0ghz you should be able to swap cards from another dual 1.0ghz, a single 1.25ghz and probably a dual 1.25ghz.
If you read through this posting you can see the problems I still have http://68kmla.org/forums/viewtopic.php?f=2&t=13414