I used to like that smell. It also reminded me of childhood phenol— Band Aids, maybe. Nowadays it portends the failure of something expensive.
Band-aid smell is boric acid. It portends the failure of a capacitor, since the electrolyte is still boric acid, just like it was in 1925. So when your flat-panel TV craps out, you might smell boric acid, because the usual cause of failure is the capacitor overheating and venting. Up until the mid-30s, what they put in radios for electrolytic capacitors were literally tanks of boric acid, with some curled-up aluminum plates as the electrodes. They were "sealed" with a rubber plug that had a terminal coming out of it, all crimped in place. Note that this was a closed pressure vessel, usually plunked down next to a bunch of nice hot vacuum tubes.
That would usually last a few years, before the acid leaked out due to the increased pressure, then, the radio would start to hum, and have to be repaired. I occasionally find one that is still good, even after 90ish years, but they all have some sort of crusty mess where it at least seeped out. Modern aluminum electrolytic capacitors still use boric acid soaked into some sort of paper-like separator and twisted into a spiral. They are sealed differently, and have some crimps in one end to make it vent "safely" before it blows to bits.
As an aficionado of toxic chemical smells, hot Micarta smells a lot different to me. The the outgassing is nominally poisonous, but not apparently poisonous enough to make sure your 1-year-old couldn't smell it. You get the same smell when you install a new power or rectifier tube in your audio power amplifier, the base is bakelite, and getting it good and hot the first time releases the smell. Its wonderful, it's the best thing about your rectifier tube failing. It's in the ballpark of bacon (Farmer Johns smells better than Oscar Meyer...) or hamhocks as far as pleasant household smells go.
Brett