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iMac G3/700 power issue

Hi,
I'm posting on this forum because I read this thread https://68kmla.org/forums/index.php?/topic/20661-imac-g3-dv-se-recapping/which made me think it could be the issue.
I was given a dead iMac G3/700 a few months ago and I finally decided to take a look at it. At first I easily tracked down the issue to the power board since no voltages could be read on the motherboard. The 5S12656 was dead (shorted MOSFET) so I replaced it and now I've got +5V on J9 and -1.2V on C4 on the motherboard, exactly as the service manual says. But it still won't turn on.

Could someone confirm the power board probably needs a recap? It takes a really long time to get it out and put it back in so I don't want to do that a second time if it's not the issue…
Symptoms include no reaction on pressing the power button (pushing on the switch directly because the button is broken), small pop noise from the speaker upon pluggin in/out power cord, and sometimes a quick power LED flash when pluggin in power cord, and a longer when plugging it out.

Also the power switch isn't really healthy, I'm getting something like 10-20ohms but it should be enough to power up the motherboard.

Thanks in advance,

 
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