quilpie,
A solid red light at the bottom left looking at the P3i antenna end is GOOD! This means you have a good power supply.
Did you remove the WiFi dongle before attempting the Ethernet update? In some cases failing to do so can prevent PAW establishing a link to the download server. You should power down PAW, remove he WiFi dongle and connect the Ethernet cable to your router then power PAW back up. After leaving your PAW connected for about 20 minutes (without the WiFi dongle), you need to power down PAW, remove the Ethernet cable and reinsert the WiFi dongle, then power PAW back up, reconnect to the Home Screen via PAW Wifi, then go to the Updates Tab. If the update has downloaded correctly you will see a live 'Install' button. Press this to install the update.
Unfortunately, though much simpler than a full manual software update, the ethernet update method can still be a bit of a pain, which is why Lee added 'Update by USB stick' to newer versions.
I'm guessing something has gone wrong along the line with your Ethernet update attempt. Probably worth giving it another try. If it doesn't work, get back to me.
Regards
Peter