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Default Philips 27" 27RF50S - no picture, smoked from back - it's toast, yes?

Sheesh. Weirdest thing just happened on a 2 year old Philips
(RealFLat 27RF50S). Was working. Left room. Come back 5 minutes
later and it's turned off. Attempted power-up. Made sound like it was
trying to cycle up - a clicking, maybe a couple times a second. Tried
changing the input selector and on a couple tries got very faint audio
but no picture. Turned it off and then a few sparks / flashes / faint
pops from inside the cabinet followed by some wisps of smoke coming out
of the cabinet.

I'm going to take a flyer here and assume that odds are enough is fried
in the thing I shouldn't even bother paying the repair estimate charge.
Realize it's not much to go on, but any thoughts?