No schematic as it was a simple circuit from the barrel connector through a resistor to the LED, I had already broken down the breadboard to create a different circuit to test the LED - which is working fine, that is what confused me! I would have to agree, somehow the w.w. got shorted or something? I believe that the misplaced jumper was on the positive side (should have been the negative) such that the LED was getting positive from both anode and cathode, odd that it would dim slowly.
hmm.. I just checked it again after leaving it unplugged for awhile. Its back up to 16.4v! Is it possible a PTC kicked in? As a test I think I will leave it plugged in with no load for awhile and see if it still provides 16v otherwise it will be of limited value for breadboarding.