(remember this thing has a small fan that can sound like a disk drive - allthough quantums have a unique noise of their own)
(( fan running could be an indication 12 volts is there at least))
if you do open the case you can disconnect the hard drive power lead and measure the voltage safely there. the 2 inner conductors are both ground and it wont matter which one of those you use.
you should see 5 volts and 12 volts. should be in 5 to 10% tolerance to get a hard drive to unpark and do internal diagnostics.
if the supply voltages are wrong the fan could possibly still run.. too fast or too slow...
im almost willing to bet the green power led is on the 5 volt supply and the fan is on the 12 volt supply. so if you have the green power light lit and the fan spinning, you have a good idea whether you want to go inside or not.
- just plugging my .02 in -