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Hi, I'm Pete. Welcome to JustAnswer! I'm reviewing your question now, and will post back with your reply ASAP.
Error code 1-2 means "no error detected".
Given the age of the TV and the noise that you heard, I suspect that one of the electrolytic capacitors has outgassed, causing it to short out and is causing the display not to show. This fault may not be detectable by the TV's built-in fault indicator.
You will have to examine all electrolytic capacitors for any signs of swelling or venting, and replace any suspect ones.
Let me know how you get on.
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If there is no visual sign of damage on any of the boards then you will need to start by taking some measurements on the power supply board first. Check the voltage outputs against those shown in the service manual and let me know if the readings are close or if you get any bad readings: http://www.audiolabga.com/pdf/V17_SERVICE_MANUAL.pdf