Originally Posted by Pdelcast

The ceramics show about .005 ohm or so. The inductor isn't as compact as the capacitors because there isn't any inductors as compact as the capacitors -- not really sure what you mean. The smallest 22uh 4 amp inductors are at least 10mm square.

The FETs are snubbed using an RC snubber -- to prevent ringing.

The component that is failing is the switcher controller -- a National LM3485. National is looking into it with us -- seems the overcurrent circuit is failing internal to the LM3485, and leaving the chip in constant overcurrent state. That's why the output voltage drops to 1.08V - -it's in hiccup overcurrent mode. Replace the LM3485, and all works well again.

Patrick