Mitsubishi CT-36309 36" CRT Issues

[YamahaFreak]

Another curbside refugee I took pity on, mostly because I have heard a lot about these larger Mitsu CRTs but never had one. It's pretty clean and appears well cared for. When plugged in, the power supply clicks continuously. After several seconds I noticed a thin whisp of smoke from what I thought was the flyback and unplugged immediately. As it turns out, the flyback was not to blame; it was instead emanating from a small disc capacitor(?) very near the FBT, dead center in the attached photo. Obviously something upstream is causing this cap to throw a tantrum, but what?