If it is getting significantly warm, even in standby, something is probably wrong.
A shorted turn or two in the transformer could do that, for example. It will still work, but the transformer is always seeing an extra, parasitic load.
Measuring the total power draw, especially in standby where it should be drawing virtually nothing, is indeed probably the best course of action for a first step. (Well, after double-checking the voltage settings, that is... Like is it set for 220V instead of 240V?)