Dell inspirion n5010 orange blink,Is it battery?

Hi all, In a delima when it come to my Dell inspiron n5010 laptop,

Its 3 years old now and for around a year now the battery has been on its last legs, Recently when the power cable would fall out i would have 6 seconds before it would turn of completely. One night it turned of completely and it wouldn't come back on at all, Now i have these lights like belows video blicking on my laptop,



I thought that if i had taken the battery out and try and run of ac power but it doesn't turn on at all and the orange lights only blink if when the battery and ac power is connected.

The laptop also appears to get rather hot as i have it running of one stick of RAM(4Gb) (one slot damaged) but i think it would be more a battery issue,

Has anyone every had this issue or resolved it? Is it worth the hassle to fix if its something else?