Hey guys, on my console there's a blue light on the power button, and then another blue light just above the reset button. I always assumed it was for the reset button. The connectors labeled reset switch and HDD led connect to the bottom prongs (is that the right word?) Whereas the power button and others connect to the top prongs.
The HDD led and reset switch are the two that seem to always be in the wrong spot. They each have two holes for connectors, but the bottom set of prongs has 5 connectors. No combination seems to work, but one of them made the light above the reset button turn red, whereas its usually blue. I suppose that must be a good sign.
Does this info tell you guys anything? I still haven't gotten to the bottom of it.