Can't see anything very "fried" there - though as you say some of the electrolytics may be knackered. There does appear to be a black lead with a 1/4" spade connector flapping about in the top photo. Are you sure that's not the problem?
That wire comes from the wire feed unit plugs in. I wouldn't think it is to do with the problem. I first noticed there was problems when the voltage dial Wasn't working on the front of the machine then had a friend look at it and he said there was quite a few capacitors blown.