I've now got the same problem with my JVC dr-mx1s.
I also have a white light where the DVD light is... only mine's progressed to an additional 2 red lights above the HDD and VHS indicators, absoloutely no movement from the fan, and no other response from the machine at all.
Although it's alway's been a bit flakey (with it's "loading" error), it's been a good machine. Unfortunately, this looks like the end for it. It's funny that we've all had a similar problem about 5 year's after first switching it on. Coincidence, or what!
Ultimately, I suspect the solution is probably "buy something else", but that's expensive and I'd rather have own machine working... but I doubt that's going to happen.
Therefore, I'm going to bite the bullet and head down to the shops and have a look for something else (though not from JVC, who I've lost faith in due to their poor support for this machine).
Sad, really.
Annoyed, February 2010