This appears to be an Xbox revision 1.1 where the power supply failure caused significant damage to the PCB. The vented capacitor in the picture is a 680uF/16V capacitor which shorted, damaged the FET, and led to the failure of the power plane. Ideally the power supply should sense failure conditions and shut down. The FET was a Philips 21N06. Credits: Ahmad Tabbouch of http://ultrakeet.com.au.