It is a very good board, I had one (also dead) and Tiido repaired it. It had permanent reset which ended up being caused by dead chipset. After replacing it worked nicely.

I also have one! (and it's corroded as hell too). I am the author of that thread - frankly I shelved the project for some time due to a severe lack of skill in electronic repair & soldering but now that I'm less mediocre at it I might actually get back to it.

It has the last ALi chipset (486 FINALi), with great performance. FPM and EDO support, also supports a lot of Socket 3 CPUs. Integrated KBC with PS/2 mouse support. All that makes it a good little late 486 board. Also has the AMI WINBIOS if you're a fan of it!

A word of encouragement: In your case the corrosion is not as bad as it potentially could be. My research on this thing so far has led to the finding that the affected areas are responsible for the onboard peripheral connections, like the HDD, FDD etc; the (unused, since there is an integrated one) KBC controller circuitry; the power circuit, and a few traces go to the CPU socket, memory port, and PCI and ISA slots.
A lot of the damaged traces/components can be essentially left alone - I have confirmed with MSI that the SMD caps/resistors right under the barrel battery are not necessary for the board to work, same goes for the unused KBC circuit. As long as you restore the most vital traces and reinforce the power circuitry you might make it boot; then you could focus on reworking the onboard peripheral circuitry etc. The 74F04 might need looking at too - mine was so eaten that only 3 of the pads survived.

It's a lot of work, though with enough elbow grease anything is possible. Take for example Necroware on Youtube - the man has repaired a lot of boards in a similar state.

Best of luck!

Thanks for your words of encouragement. I`ll follow traces and tone it out as good I can, but I fear I will not have enough diagnostics skills to tackle this board. I even thought about contacting Necroware, as he is -like me- from Germany to the best of my knowledge. Maybe he's interested to make a video about it.

I also own this board. When dealing with damage like this, it is important to desolder components in the area and inspect damage under those parts.
In your case that means HDD/LPT/COM/FDC connectors, the power connectors and potentially also both SIMM slots. This is to clean it and also importantly to be able to trace continuity when troubleshooting.

I'll take out the connectors. Someone else dealing with this board was on the same route as one SIMM slot and one COM port is already desoldered.