Chosen Solution
The small SMD coil (L9000) under the display connector on the logic board is charred. The display connector was damaged previously (broken shield) and every time I was transporting the iMac I had to either smack it or open it and wiggle the display cable in order to make it work. This time it might short-circuited one of those pins to the ground (the twisted wobbly shield) and hopefully only that inductance died. Here is a picture from the crime scene: http://cl.ly/image/222v2L222z1M I wonder if there are any options to repair it.
Laurian, looks like your L9000 is a 250OHM inductor used as a filter. The connector is a 20389-Y30E-01. The inductor will be easier to find than the connector. The difficulty in finding it, is because it is a 32 pin and will need a bit of searching. Hope this helps, good luck.