Next step today..
Removing the double heatsink with the AC128's. They tested ok.
Using the Peak Atlas tester that Mika recommended. Got one!
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I was careful to avoid overheating the AC128's, as I have learnt that they don't like heat. I got myself Goot heat clips. Ordered them from Japan on ebay. Highly recommended!
I also put in a new Zener diode while I was at it.
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Since these transistors tested ok (Nr 1: hfe=181, leakage 0,21mA. Nr 2: hfe=52, leakage 0,21mA) I went on to test the transistors AC127-2 and AC132-2, mounted on a heatsink in the channel where the smoking resistor is. They tested ok (AC132-2: hfe=85, leakage 0,66mA. AC127-2 hfe=57, leakage 0,77mA). At least that's what I think is ok. I also removed the smoked resistor, which tests ok but looks unhealthy. In the photo the legs of the transistors are not actually in the board so it is correctly measured although the heatsink wasn't removed.
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I also checked and cleaned fuses, took away some corrosion. I resoldered an old odd looking potentiometer joint. And I checked what I believe is the NTC's on the smoking channel but they seem ok, although a more thorough check is necessary to know for sure.
I suspect someone has been in there and repaired many years ago, perhaps exchanged a transistor and NTC's (almost certainly) in the smoking channel.
All looked well today. Next step is to check the rectifier.
My suspicion is that there is something odd in the regulator circuit..