OK, so it was technically the power supply... but still, was downright impressive. Flames literally shot out of the fan during turning the machine on. To make matters worse, it happened while my face was next to the fan so I could hear if it was spinning. I reached around and pressed the power button and pop!.... flames!. It didn't actually catch fire, but I will tell you it made me jump quite high with the flash of light that was generated and the noise that accompanied it.
Needless to say, I'm a little upset at the manufacturer of the machine. When I first got it, the drive was bad. Got a replacement. Ran for about two weeks now and now this happens. Went and got a new power supply to see if I can get it up and running today... no luck. Looks like it blew the motherboard as well. Hopefully, it didn't take the $10,000+ video cards with it :-( Called the warranty guys and they told me it would be Thursday at the soonest before getting a replacement.
Not good enough... made a few calls... the manufacturer is getting a replacement sent to their Dallas office overnight and they will be driving it over to my Fort Worth location (about 50 miles). OK, so maybe I'm not so mad anymore. They are trying to make it right... but still... IT BLEW UP IN MY FACE! ;-)
First time for everything I suppose. After doing the same thing probably a 1,000 or so times, I've never had this happen.
[update] The president of the company that manufacturs this machine drove it over yesterday around noonish. After moving the video cards and drives, I'm back up and running. Now I'm back to developing... and, yes, the cards were still OK :-D