Burn

My "current" spec :

MB: Biostar TA790GX A3+
Proc: AMD Phenom II X4 945 (or965 I forgot)
PSU : Crossair CX500 v2
RAM : Crossair I forgot the series
VGA : an old ati card, 9500GT if I'm not mistaken

long story short, my motherboard just burned out a few days ago, not really burned with fire comes out, but there's some actual smoke comes out from the FET part.

http://www.biostar.com.tw/upload/Motherboard/b20090319....
the burned part is the left most IC under the T-series labeled heatsink.

It's not overclocked, and when it happened I was playing a light game, my pc suddenly freeze and there's a burn smell.

I decided to play a little with the motherboard after that :
- if I put ONLY the 24pin cable, and press the power on there will be some sort of "life sign" : lit led, spinning fan, etc just that the led show the "abnormal status" without any burn effect.
- if I add the additional 4pin 12v and try to turn it on, there will be a blink (led lit, spinning fan for a very short time), that's all, just a blink.
- if I TAKE OUT the processor and try to turn it on WITH the additional 4pin 12v, it will turned on, fan spinning, led show abnormal state, and a bonus smoke and burn smell (without the additional 4pin 12v it will be just abnormal without the burning effect)

now when I write this, I think that little playing with the processor on the broken moterboard was not a good idea...

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I and my friends ends up with 2 possible explaining about what could trigger this "accident".
1. it's the brand new Crossair CX500 (about 1/2 weeks old) that faulty. If I take a closer observation there's a shrieking sound like what an old tube monitor makes and some "strange" smell, I thought it' was the "new stuff" smell but it's somewhat smell like electric shortage.
2. The motherboard is finally giving up after getting crappy supply of power from the PSU before this new one.

I decided to return the power supply, and it's on it's road for new replacement from the shop, so there should be no problem with that.
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my question is, is there a possibility that the processor getting broken too? if yes what is the chance. well I wouldn't giving it too much tough if it wasn't the processor voltage regulator IC that burned.

and another one : if I bought new motherboard (I already bought on actually, it's shipping right now) and my old processor is broken, is it possible that it will broke my new motherboard too?

FYI : I decided to buy a whole new parts - the power supply, ram, gpu, and the motherboard of course (minus the processor since I'm not really in mood buying new one after looking at the current state of new amd bulldozer series, not to mention I think my old one is still powerful enough -provided it can still work. I'll wait another quarter for upgrading it.)