I have seen questions about the diagnostic codes (volume/mute LEDs) on Dell Studio 1735 1737 laptops where the Mute and Volume up lights stay on while the Volume down Blinks. So far as I can tell, by searching the web, no one has posted the meaning of these lights.
Well here is a link to tell what the light codes mean. If your system has power but is not performing a POST just check if the mute, volume up, and volume down multimedia buttons are lit in a sequence indicating a system problem.
Here is the wesite to explain those POST failure codes.......
http://www.techmonsters.com/DellTraining/bin/Foundation2010/Portables_Foundation_2010/Studio/Studio_1737/1737/general_ts.htm