Xbox still operating , but smells like burnt electrical smell when power on
I agree with Pirat3. It also could be a swollen cap ready to blow out. Check the motherboard for brown marks and the top of the caps for bulging.
It is probable the solder points where the power cord comes into the xbox may have come partially unsolderd. This would cause an arc of electricity which would produce that burnt electrical smell. The xbox would have to be opened up and power supply removed and resoldered.
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