Thanks, no surprise that J3 connector looks good - just wanted to make sure it wasn't hack city from a previous owner.
Can you remove the addon electrolytic capacitors in the reset section on the MPU board.
Insert the two 5V wires in the MPU J4 connector so the board is in power on LED flicker only mode (failed boot mode where the LED does not flash multiple times).
Remove both the RAM chips at U7 and U8 and power on the board. Do you get a flicker then after half a second a flash on the LED?
Next, remove both the ROM chips.
Hook up your oscilloscope.
Power up the MPU board.
With your oscilloscope, probe each of the address lines to the U6 ROM socket in order of pins: 8, 7, 6, 5, 4, 3, 2, 1, 23, 22, 19, 20
As you probe pin 8 through to pin 20, from memory you should essentially see squarish wave signals that halve in frequency as you go along the pin sequence listed. Is this what you're seeing (the halving of signal frequency)?
Describe what you see on the data lines on that U6 ROM socket: pins 9, 10, 11, 13, 14, 15, 16, 17