Is the LED light purple ?
Nearly all TVs are made in 3rd world countries using the cheapest labor possible with the cheapest parts, minimal quality control, non robust design, and no tests for long term durability.
If you have definitely determined that the main board is bad, someone knowledgeable in electronics can replace it. You can get one from the places like Ebay on the 'net.
I found a "pulled" one for about $123 at http://www.shopjimmy.com/tvrepairshops.cfm but you may do better if you look.
I have only read bad things about this model. Here are some of the things I have come across. Try this first. With the TV on, unplug it, wait a few seconds an plug it back in. You may also turn off the energy saving mode.
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same problem with the damn purple light
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