As I mentioned in a previous posting, I've checked the board (both sides) under a microscope (I'm a scientist and have several) looking for anything that might cause a short. I've also checked each solder joint and looked for breaks in the printed circuit.
The ethernet chip acutally has its own clock (accessible at pin 3) though it's not used for this project. As I said, it does not appear to be cycling when checked with a logic probe. The chip gets slightly warm after leaving it plugged in for a while.
As I previously mentioned, with the ethernet chip removed, I get the expected video output and the LED flashes green. That suggests to me that the everything prior to that stage is working correctly. Once I inset the ethernet chip, I get no LED and no video output. I can't tell you how much current the chip is drawing, only that it registers 3 volts at pin 1, which indicates it's getting power.