Well, first the #1 means that its getting power, I had this same problem with my iMac G5, but I had a motherboard/capacitor problem and it just happen to be after a lighting strike too.
First check all of your capacitors and see if they look like the picture on the left. If they do look like that, you can get a new motherboard installed by Apple for free 40667989.bad_caps1.jpg
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