What do you think is wrong with this iPod Touch?

It cannot boot, but is recognized by iTunes as an iPod in recovery mode. When I try to restore with the latest firmware, I get the 3194 error. I tried using iREB and restoring with custom firmware, but it will randomly shut off right before the restoration process ca begin. It seems most responsive with custom firmwares. I'm thing short in the logic board board, but I'd be interested to hear your thoughts. Also, there is no liquid damage to the iPod either.