GA-P55M-UD2: Burnt out Voltage Regulator?

[m0s31]

System:
Intel Core i5 750 2.66Ghz
Gigabyte GA-P55M-UD2 Intel P55
Cruicial 2x 2GB DDR3 PC3-10600
Corsair TX 650W
Kingston 64gb SSD
Geforce 8800GT

Recently i tried overclocking my cpu to 3.6ghz (with no voltage increase) but after a few minutes running at this speed, the pc shut off instantly. When i tried turning it back on it wouldn't come on. I took out the motherboard battery to reset the cmos then tried turning it on. Initially, nothing happened. Then after pressing the power button a few more times the component in the picture got white hot and smoke started comming off it. I turned the power off and left it for 10 minutes, then i tried turning it back on. This time it started normally allowing me to change the cmos settings and boot into windows. I've had no problems since(at stock speeds, i haven't tried overlocking it again).

Does anyone know what this component (link to pictures below) does and what the consequences of running a my pc without it functioning would be?

http://eve-files.com/dl/214408
http://eve-files.com/dl/214409

I thought it might be a voltage regulator and similar to failures of other p55 motherboards (ASRock P55 Pro, ECS P55H-A, MSI P55-CD53) -
http://www.tomshardware.co.uk/budget-p55-motherboard,review-31699-15.html

Any help would be greatly appreciated.

 

[m0s31]

bump

Anyone know what that component does?

 

[MeatLoaf]

Looks like it my be a CPU voltage regulator. Id try and RMA the board if possible.

 

[lemzip]

yep, on my board those points are cpu voltage, on the underside are the read points, looks like its had to much volts through it and fried.

 

[m0s31]

Thanks for the response.

I think i'll rma it.

 

[lemzip]

thing is you said no voltage increase however was it set on auto or did you hard set it to the max recommended? If on auto, my board will happily pass the max the chip will support.