> With F2 blown I loose the power light
> in the world of 120V
Both PT primaries should be getting 120V.
Yet when F2 is out, the box is dead?
UN-plug. Remove F1. Read the resistance across PT pins 1 and 2 at the PCB solder-blobs. A few ohms is normal. Infinite ohms is wrong. If wrong, re-check probing the stub of the actual pins (possible or probable bad solder blob).
If that's OK:
Be very sure the 115/230 switch is ALL the way in 115 position.
If the switch us funky, if you are never going to use it in 230V world, I'd be real tempted to remove the switch and hard-jumper the 115/230 function to 115 connection.
If the PT winding 1-2 is bad:
If the PT does NOT run hot after some hours, you could just double-size F2 and run only on the 3-4 primary. Using only half the primary means more heat and sag, but it may not be loaded to full rating, and your DC voltages seem acceptable.
> the voltage that's 275VDC on the schematic climbs to 280V then comes back down and stablizes at 246VDC
The climb and fall is normal: tubes suck no current until the cathodes heat-up, around 10 seconds.
275V versus 246V.... well it's all +/-10% depend on tolerances and your particular wall-voltage. You are 11% off. You may only have one working secondary. However the 11% off won't bother the tube. Just adds "tube color" insignificantly sooner (lower level).
> there's a recifier in there for the tube heaters is there not?
Not. The heaters are heated with AC, raw 6.3VAC. You seem to have 5.6VAC, 12% low. That's at the low end of acceptable. In a preamp it is not a problem.
They use a different AC winding to make a +/-DC supply for the chips. The voltage on pin 1 of 7808 should be at least 11V DC. It can be anything up to 35V; the '08 will regulate. I would guess 12V-18V DC.
> It's probably not a cold solder joint. That would be a good call for a new build, but faults in previously-working manufactured gear are typically different.
Yes, but bad joints happen. Even in factories. And in dip-soldered PCB work, the "large" leads (transformers, switches) are prone to a condition where solder "touches" the large cold lead, maybe enough to conduct on final-test, yet fails as tarnish sets in. The Samsung IBM MDA monitor was prone to a bad joint on one of the heavy leads to the yoke. Smacking made it work for a little while. I salvaged a bunch by knowing where to suck all the solder out of the joint, scrape the now arc-corroded lead, heat and tin the lead, then flow to PCB.