Hot Dog,
The Crikey journalist is one of Australia's most respected aviation journo's, he seems to often have better sources of information than ATSB, he most certainly has many long standing friends amongst the QF pilot and maintenance fraternity.
Have a look at the ATSB report re. flight controls, or get a -744 electrical diagram and have a look what is left with just one generator, and the split system breaker open. Have a look at which busses were still powered, and there seems to be less than 100% certainty about that , given the QAR and FDR lost power. Have a look at the FCC power sources.
Down to one generator is still bloody serious, even without the other electrical malfunctions listed.
Tootle pip!!