iMac G5 - stuck at blue screen

-- I posted this to the 10.4 forum, but a user suggested to post here, as it may be a hardware issue... --

Hi, I have an iMac G5, which was running 10.4.11. There was a sudden power failure for 1 second during a thunderstorm. Now here is the problem. iMac will not start up past blue screen. I tried the following, but still not able to "restore" the system back into the hard drive.

* Command option+PR (no luck, still blue screen after restart)
* held down SHIFT for safe mode (was able to get in and back up stuff)
* Command+S, fsck -fy, reboot (no luck, still blue screen after restart)
* Started from original installer disk #1 (tried to repair disk, but still blue screen after restart)


As my final attempt, I tried to restore from the installer disk #1, but when I returned to check on the machine, it has a blue screen on it.

I even tried a fresh clean install, but again when I returned to to check on the machine, it had a blue screen on it.

I don't know if it restarted, since I didn't watch the entire disk #1 install.

Is this a hardware issue?
Any do-it-yourself parts that I can try to replace?