Fix it.
Did you even measure all the fuses and the 5 volts or 12 volts yet? One of these are most likely the issue, especially if you're not getting any voltage to the MPU board (no LED's light up).

C2 (100uf 35v or 50V cap) is what I would recommend changing first and testing IF all of the fuses are measuring good. The C2 can leak and even damage the trace/feedthrough underneath and spoil your fun. C2 should be changed regardless of any other issues you find with it.

There are many other possibilities of part failures, but you do have to know where to start, which is with measuring voltages and testing out all the fuses.
http://www.pinwiki.com/wiki/index.php?title=Data_East/Sega#Power_Supply_Issues

I recommend an Xpin power supply over Rottendog if you do go toward a new board.

mine did the same thing, bad capacitor on power supply board.

Sonora70 , did you change C2 yet? You should be able to find a 100uf 50volt radial capacitor at Fry's Electronics if one is near you.

This is a telltale sign of a bad filter cap...very easy fix.

My little itty bitty contribution is to check all fuses. I mean more than just visually looking and seeing one in place in each holder. Please check the fuse values against the manual or sometimes the card inside the back box and/or cabinet. Many times fuses are inserted in games because some owners were in a hurry or having issues. I always go back to factory value and then address problems after that if they exist.