A post-repair video of the faulty original Xbox, which wouldn't output any video signal, and gave a red flashing error light after restarting itself twice after power-on.
The SMD and through-hole electrolytic capacitors seemed to be physically OK from an initial inspection; I removed the supercapacitor (C7G10) but it hadn't leaked, though a handful of 1500uF 16V electrolytics (C7G1, C8G1, C8F2) seemed to be running weirdly warm; after replacing these three 1500uF 16V capacitors (one of which had minor leakage underneath it) and also the five 1500uF 6.3V CPU capacitors, it now seems to be working OK.
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