Unusual boot image, not usual "stuck at M"- Hardware issue?

manhatton

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This phone will go into boot loader, so I've successfully reflashed to 2.0.1 (according to RSD). BUt it will not boot into any kind of recovery on this "M" screen that is off center, sometimes split and with this fuzzy border on the bottom. Any one know if this is a dead give away for a bad board, or can more be done to remedy software?
 
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