If I were you, i'd do the following:
- Take the chip out and clean the install up as best you can.
- Test. If things don't improve, check for solder splashes/bridges.
- Check Mainboard Fuses (marked 'PS#'). If you get little to no resistance, they're good - any higher and you've got some blown fuses which will need to be replaced.
Unfortunately, it sounds as if some damage has been done to the machine, so you may have to send it in to be repaired if you can't do this...
For the minute, you're choice of wire seems to be the least of your worries.
