Here are a few more detailed pictures of the insulation Wankerfx:
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Under the motherboard, it is some neoprene tape stuff (not exactly sure what it is, I got it with my pot). I used a lot of clear nail polish on both sides of the motherboard, especially on places that had electrical components visible. Then I put on some of the stuff, which I believe to be neoprene tape, around the socket (not completely though) and on the backside of the motherboard. I also had a piece of insulation about an inch tall that went around the socket area, though I'm not sure how much that actually helped. The tube itself is insulated with pipe insulation, which you can use a neoprene sheet and some electrical tape.
I still can't seem to figure out this power supply issue. I've taken it all apart and I don't see any physical damage on the inside, and it still wont start (with or without load). Any suggestions would be very much appreciated.