Macbook Died: Blank Screen, No Startup Sound, but White LED on

My macbook (vintage 2006) had a kernal panic and now it will not boot.

When I push the power button:
-the screen stays black
-no startup sound
-white LED comes on
-I can hear the fan and superdrive spinning
-The Leopard DVD spins (and I cannot eject it)

What I have tried:
-with and without battery/ac (various configurations)
-reseating the RAM
-resetting the PRAM and SMC
-using another mac via firewire with mine as the target (plugged it into another mac, and started mine while pushing T)

Questions:
-How do I get the DVD out?
-Is there anything else I should try?
-Has the logic board failed?
-What should I do?

Thank You!

Well, it seems you covered just about everything at this point.

I'm not sure what you mean by "plugged into other mac." It does seem the logic board is the culprit. As for the disc, have you tried pressing the trackpad button while powering on? This usually "forces" the disc to eject.

I'd try using an external monitor to see if the problem is the screen, but other than that, I think it's time to retire the notebook.

That is what I feared. I did try the Trackpad trick and it was unsuccessful.

If the front LED is continuously on, that's substantial evidence the logic board is malfunctioning. If it goes away after time, or starts "pulsating" you may want to try plugging the notebook to an external monitor.