a quick followup... I found this thread which mentions the exact same blinking in the sync area...
http://duc.avid.com/showthread.php?t=309677
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Thanks for the response, just to clarify, the 1394 light (FireWire) is not on at all. Only the three SYNC lights are dimly blinking.
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Ok, had someone locally tell me that the blinking lights on the SYNC section are just indications the unit is powered on.
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...Now I can relax!