Red PWR light shines very faintly, PI doesn't boot up

I was trying to light up a LED using the GPIO, when the Pi shut itself down (maybe a short?). When I replugged it in, only the red PWR light would shine, but very faintly. TP1-TP2 voltage is 3.2v and PSU voltage is 4.87v.
Seems like the polyfuse is blown. Should I wait another day for the polyfuse to recrystalize or should I RMA?
PS: in case someone ask, the Pi does not smell burned plastic. There are no traces of burning, and smoke was not produced.

Thanks!

Sounds like a wait and see to me.

I nearly did this the other day, got about 1mm away from the wrong wire, Im sure i would have fried it. Glad I didnt! lol

I tried to power it up, same as before. Now TP1-TP2 shows 3.4v. But the SoC gets a bit hot in 3-4s and makes a very light (you can only hear it if you are very close to it) whine.
I hope it isn't burned

EDIT: Also, the PWR led lights up faintly and then a second after a bit stronger. ?!?

you ( may be ) burned it and you ask us whether to return it for RMA?
sorry

By RMA I also mean buying a new one, or paying the repair cost.