I changed R1,2,3,4,6,7,8,9,14,15,17,18, 19,20,21,22,23,24,25,26,27,28, 29, 30, 31,32, 33,34. (resistors).
I changed the electrolytic can type with a 40/20/20 500v and added a 50mf 100v which connects off of pin three (yellow wire) V3 & V4 to ground. The 130ohm 5w resistor is in parallel with the cap.
I replaced all the caps with the exception of the ceramic disc type of which (2) are connected to V1, (2) are connected to channel 1 volume/tone, (2) are connected to channel 2 volume/tone.
My amp sounded good when I first played it (60 minutes) I believe I stayed on the mic channel and played both a single coil and hum bucker. The channels J1, J2, J3 were sounding quite good but I liked the overdriven mic channel.
I hooked up a fender reverb tank to it and jammed out on the mic channel with my Heritage 535 (similar Gibson 335), it sounded like Hollywood Fat's tone, this knowing why he enjoyed it.
Because of a challenge and time on my hands (retired) I wanted to enhance the longevity of this classic amp. When I smelled heated plastic and then found the caps splitting I decided to change all the resistors/caps. Another blog member suggested too.
I carefully took lots of detailed pictures and drawings.
Made my list of items, got them in and installed.
I did not replace C1 nor did I replace R5, both are connected to V1 pin 7.
I have just removed both and tested.
Here are the findings; C1 = .97nf (isn't that equal to 970pf?)
R5 = .44m (isn't that equal to 440k?)