Pull out that board. Check both the edge connector on the board and the backplane slot for debris. If both are clear, then reinstall the card and make sure it seats ALL the way in. If the symptoms persist, I would agree that the board is hosed.
BTW, it's true that board renumbering is the usual technique for getting the processor to recogonize a new card. However, boards added in the next available empty slot are frequently identified automatically after a reboot. Swapping like-for-like cards doesn't require this step, which is impossible anyway if the system is dead.
Side note: There has been a little debate about whether any difference exists between "frigid start" and "system erase". But I've never had any trouble after going to Maintenance, Slot, entering "00", Demand Test, pressing F3 twice (hidden option), then responding "Yes" to the System Erase prompt. This technique also produces an "F" on the processor during boot, indicating a frigid start.