Thanks for chiming in GRUMPY I hoped you'd provide some help. 5VDC is 4.98Volts with less than 25 mV AC on it so I think that's solid. I figured it has to be something wrong with the blanking / reset circuit as for some reason it's locking on all the coils that are fed from the A/C relay (F4) but as Erik said is you boot it up without the power or those connectors unplugged you can then plug them back in and they all work fine. I'm not super-familiar with the reset / blanking on System 11 but the 5VDC and Blanking LEDs both come on at the same time then stay while the diagnostic LED starts flashing a second or so later. The MPU does have quite a bit of alkaline crap on it so that may be the root cause. Power supplies seem fine other than the 50VDC being 75VDC but I don't think that's unusual for Sys 11s, right? Bridge for 50VDC tests fine and there is very little A/C voltage on it either.
One other thing that confused me for a while is that the A/C relay energizes and stays on the C side normally but if it needs to fire the A side it works fine so my guess is that's just the way this game is programmed? Seems odd to leave a relay energized all the time like that.