The first thing I noticed when we plugged it into an amp was the radio that could be heard and the really high noise floor. The guitar was practically unusable with any sort of gain. My first attempt at fixing the radio (and noise) was to get down into the circuit board and replace the electrolytics with fresh ones of the same value (about 20 of them on the board..Damnit Moog should have used tantalums!). This killed most of the noise problems but the radio is still very persistent.
To be more descriptive, the radio comes through not very clear, it's buzzy and distorted. The active treble control can boost or cut the radio and the compressor can really kick it up a notch and so I think the radio is originating very early in the circuit. Just probing around with my finger doesn't ever kill the radio.
The next logical step to me is to start replacing the IC's (using sockets). I've had luck with SS stuff before where the digital stuff (in this case a CD4016 IIRC) wasn't soldered down well and was causing radio. But I'm very hesitant to start changing out more parts in a guitar that is so valuable without knowing for a fact that the problem will be fixed.
FWIW I did pull the pickups off of the PCB and tested them by themselves. They are microphonic as crap (especially the bridge) but don't pickup radio on their own. I'd like to pot the pickups but again, I don't want to hurt the value of this guitar too much in case my bud doesn't want it later.
The most annoying thing to me is that when he plays this guitar through the Rocket I built for him, I can hear his radio IN MY EXPRESS! At that point I made him put the guitar away
So I'm not sure if I want to keep working on the big PCB and try to fix the problem or just pull the big PCB and make the guitar passive (literally have to desolder one wire to do this). I'm not afraid of the PCB work, I'm very competent with PCB rework, but I don't want to hurt the value of the guitar. IMO it's not worth as much if the electronics don't work but the vintage market is a fickle beast..