Thanks again everyone for the responses.?
I do not own an oscilloscope, been meaning to get one for some time now. I think that is the only way I can get further diagnosing, as I am not used to transistor gear or wadley loop receivers, I have only repaired tube gear and built Regen receivers before, never toyed with something like this. I only own several DMMs, a VTVM and a basic Heathkit analogue RF generator.?
An update on where I am at right now - I removed all the solder off the board besides the blob on L101. The remaining blob was on c117 next to T05 and T06 and was not electrically connected. I am glad that coil L101 is not critical for SW listening. I was not looking forward to winding a coil that small.
The receiver has not worked at all since my initial post. I will better describe the behavior here:
The lock light only goes out when the MHZ dial is tuned to 0, peaking in noise to the right of the 0. The light however will not go out when the band switch is set to the AM band, only on bands 2-4. The preselect still does not seem to have any affect on this. I do get S meter movement when tuned here.?
I will see if anyone local has an oscilloscope I can borrow, or maybe look at getting a used one.?
I will try reflowing the board as suggested, in particular I will focus around the IF cans. I will only use a soldering iron because as Pentagrid pointed out old PCBs are fragile and not up to the task. I plan on working on different parts of the board simultaneously to spread the heat out better.
Any other suggestions before I look for an oscilloscope?