Those little squares your talking about are Surface mount resistors or capacitors...
Heatgunning can cause untold damage to all the parts on the board, depending on how hot you let it all get... Its hard to say what would have caused when you took a heatgun to the board...
The ones sitting directly underneath the GPU are capacitors, as far as I know they are there to filter the power supply to the GPU (could be wrong though, im taking a bit of a guess)... Also, as fair as I knew they are all in parallel, so loosing one or two of them shouldnt make too much difference... But yes they are damn small and are extremely hard to find...
To be honest, Id say scrap the board and get another one... It sounds like something in it has gone severly wrong, and heatgunning it more wont help... 360 boards are so complex that its nearly impossible for the average person to track down problems with them... Hence the reason why most error codes are mostly unknown
This post has been edited by ausmods: Nov 16 2008, 12:41 PM