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Check the large multi-tap power resistor in the circuit. I beleive it is a large ceramic unit. One of the first radios I worked on was my Model 20 and this resistor had an open in one section that made the whole set play weak. As I recall, voltages were OK when I was testing, but one section of that resistor was the culprit.
Of course you are aware that the volume has to be turned up in order to receive weaker stations. This set has no AVC. Good luck and keep us posted.
Gilbert
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