Without physical access to your 1010 box, it's hard to say. It could be as simple as a capacitor problem, which can be fixed with little problems, or it could be some more serious issue going on.
I will confirm that the 1010 rack units do get very warm to the touch, I have two on my desk, and despite my looking to replace them over the next few months, I have done a lot of work to keep them up and running (as well as having a spare rack unit just in case).
It's possible you have a dust buildup problem, which could be causing some problems for you. Narrowing down exactly what your issue is without having the unit in front of me is a difficult task at best. If you have a soft, wide/large paintbrush, I would suggest opening the box up, and giving it a good cleaning. Canned air would also be effective in cleaning as well, and having it open would give you an idea of the condition the capacitors are in.
My only other questions are about your computer itself, what are the basic specs of that, the software you're running, and in a worst-case scenario, if it came down to replacing the 1010, what would you look to replace it with?
My 1010's are running with a Delta 66 unit right now, and I have an amazing array of compatibility at my disposal, but I know the units are getting very old, so it's always good to have some forethought into your next plan of action.
Core 2 Quad Q9400-Scythe Ninja Rev A|MSI Neo P45|WD 150GB Raptor|WD 250gb SATA-I|8GB G-Skill DDR2|WD Blue 640GB SATA-II|Logitech KB|Apple Mighty Mouse|ATI HD4850 512MB-Accelero S1|M-Audio 2x Delta 1010|Delta 66 Omni I/O|Corsair 400W|Cooler Master Elite 330
Dual Boot: Ubuntu 10.04 x64 Lucid/Windows 7 Home Premium x64
Adobe Audition Mac & PC, Logic Pro, Ardour, PT 9, Reaper x86 & x64, Ableton Live Lite
2x Delta 1010, 2x Delta 66, AP2496, FW Solo, Pulsar II, ProFire 2626, Fast Track C400