It seems it's one of those "vintage" sets. I don't imagine that the problem is very major since such (older) sets are known to develop bad joints, especially around the larger components (funny, sounds just like a problem that humans have). It might not be necessary to replace the LOPT. Just resolder as many joints as you can see. Usually the ones reponsible for arcing will leave visible signs of burn. The acrid smell you detected was probably ozone (given off when high voltage ionizes oxygen in the air). Good luck, if you haven't already solved the problem.
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My Advent 1080i HDTV-ready montor worked fine till last night. This morning I smelled something burning and I had to rush home when my people heard sparks coming from the TV. I could see the sparks from the side of the TV and it refuses to come on. It may have even affected my dishNetwork HD receiver, as that one would not stay on too.
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