Tom.G said:
There is a good chance that L1 is also destroyed, so you might as well order another if you don't have a spare.
After some digging - that's actually the only element that has died. Even Q1 still works (not that I plan to use it again after the stress).
1) R10 should be 1/2W due to voltage limitation of physically smaller resistors
It wasn't. Will see into that later, atm it looks like the resistor was perfectly OK (I know it can mean I am just lucky).
2) C5 should be at least 250V
400 V it was.
3) Add a 0.47μF, 250V metallized film capacitor across C5
That's just to make it react faster to the voltage changes, yes?
At this point Q1 is obviously defunct so gently remove it from the circuit. Gently because we don't want to disturb other evidence.
That was an easy extraction). After it has been removed 555's OUT was still oscillating.
Replace Q1.
For initial testing, L1 can be replaced with a 470Ω, 1/2W resistor.
Unfortunately at this moment things went fubar. When the breadbord got melted elements got stuck, so being gentle was no longer an option. It took quite a bit of force to remove the L1, took some shaking. Once it was removed, oscillations stopped. They returned later after I moved some of the cables trying to measure voltages, so I believe it was a problem with some loose connection on the breadboard (another reason to suspect it was problem with a connection from the very beginning).
What I did at this moment was I moved part of the circuit several holes to side, replaced Q1 with a new one, switched the current on - and it turned out oscillations are OK, the circuit draws 1A all the time (limited by current protection from the power supply), but the voltage on C5 doesn't grow. That made me suspect L1 and D1 and bingo - it was L1 that was shorted somewhere inside. No idea whether it is cause or effect of the meltdown.
I will look into your other suggestions later, for now I am at least at the same point I was on Thursday.
Sadly LTSpice doesn't want to cooperate when I try to simulate the circuit with Q2 attached to the RESET pin.