Hi All,
First of all, thank you very much for all of the help. I was really happy to see so many responses after I came home from work today.
Long story short, it looks like it was a mix of bad tube and an inadequate replacement for the cathode resistor for the 12AT7. I guess I jumped to conclusions when I saw smoke and completely overlooked the tube. Once I put in a new one, I had reverb again...and I should have known to try that first and foremost.
However, I also decided to figure out why I was getting such a low resistance to ground from pin 3. It turns out that the cathode resistor had been replaced with something that was very small - looks like maybe 1/2 watt and it was cooked. When I measured across it I was getting 695 Ohms, obviously way too low of a resistance according to the schematic. Also, the cathode bypass cap was completely missing.
Since PRR said the measurement across my reverb transformer secondaries was strange, I figured I had better try to measure it again since I am new to this. Last night I tried measuring across the output rca jack per a recommendation from Gerald Weber in a guitar player article and that was my mistake. When I opened the amp up tonight I noticed the lead to ground was actually off of the reverb input jack so I measured again across those wires from inside the amp and got 1 ohm. Whoops.
Was the tube getting adequate bias? Could the low value of the resistor have lead to the failure of the tube, or was it the general stress this tube experiences, i.e. the high plate voltages, that killed it? For reference it was a newer EHX 12AT7, though I'm not sure of the age.
It looks like there are also a number of wires that have been burnt by a soldering iron, some so bad that the pvc insulation is almost completely melted through. Between the that and the underrated/missing parts, I think my best bet is to order some parts from Doug and clean it up.
Sorry for not testing the tube first before posting, but thank you for giving me a sense of what to look at and enabling me to uncover the issues I mentioned.
-Mike