Thanks for the response. I've found a number of seemingly different answers at various sites, but below is something from a book on PC repair, for what it's worth. I don't know how old this info is, however. To answer the question as to what happens when a switching power supply "burns up", I wish I knew.

I need to find a EE or some electronics person and find out.
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According to Scott Mueller, author of Upgrading and Repairing PC's;
Some high quality power supplies have built in load resistors and can run with no external load resistor.
Some high quality ones, like the ones from PCPower and Cooling, have no resistor but only require a very small load on the +5 volt line.
Many of the less expensive ones require a load on the +12, +5, and +3.3 lines to work.
I would say that about covers all possibilities.
He also says that most of the better quality ones have internal circuit protection and will shut down after just a few moments of operation without a load, however the cheaper ones have no protection and will be destroyed after a few seconds of operation.
Talking about ATX power supplies.