Stephen Moss, on Fri Jul 1, 2011 2:12 AM, said:
A look at the circuit diagram shows that there is a few components such as a choke and a transorb between the power connector and the switch so there will be some current drawn from the supply when even when the Jaguar is off.
The common-mode choke coil is in series with the so it doesn't draw any current by itself, and the transiant-suppressor diode isn't actually present on the PCB (Atari probably removed it to save a few cents...), and even if it was present it would only draw a negligible current (in the microamp range). On the other hand, the main switched-mode regulator isn't completely turned off when the switch is off ; it's only in standby, so it may draw a few milliamps.
I doubt it would cause the transformer to generate much heat though -- it's probably the transformer itself that wastes energy (one way to test would be to leave it plugged in, but without connecting the Jaguar at the other end).
(Personnally, I no longed use the original transformer ; I found some discounted switched-mode power supplies that happened to be compatible with the Jaguar power requirements. They are smaller, lighter and more efficient that the original ones, and were discounted for €1 each.)