My Dell Inspiron 1150 will not power up correctly. My OS is Windows XP Home Edition SP2.

Without the adapter connected...
Pressing the power button causes the power and battery LEDs to both flash green quickly and then revert to blinking orange about 10 times before stopping.

Pressing and holding the power button or holding the function (FN) key and power button and releasing have the same result.
With the adapter connected...
All actions result in the brief flashing in green and then nothing.
An extensive chat session with a Dell representative resulted in a diagnosis of "Reed Switch Failure" and I was told to call the out of warranty customer service hotline. The cost for the repair will no doubt be prohibitive so I am just wondering if anyone has suggestions for a cheaper, possibly quicker alternative. Google searches have not really helped.

I was thinking of either looking for a replacement motherboard to swap in or possibly trying to isolate the individual component that has failed. I have limited experience in this regard and would not know where to start or what additional issues I might face so if anyone can offer input I would be greatly appreciative.