Well, I tried populating just the LPC, the 2 caps around the crystal and the crystal, on a new board. I powered it with the current limited PS set to 3.3V, same thing. It started out OK, with 10ma current draw, and then, within 15-20secs, current shot up, 30-50-70-100ma and the current limit kicked in. Now there's a 2ohm short across the 3.3V line. I'm sure there are no shorts at the LPC. So the problem is not with the 5V, 3.3V reg or any other component, but it is the LPC itself? I noticed something else too, there was a sound, a very very faint hissing sound, I'm not sure from where, it almost sounded like bubbling flux, but there was absolutely no heat anywhere.
-Thanks,
Uttam