I have been lazy and have not done the ground mods to my machine. I did check all of the existing ground points and made sure they were clean. I have the NiWumph CPU board. (Just an fyi). My cpu had unrepairable acid damage.
I would have guessed that your sound was either a bad pot or the op amp on the sound board. If you believe all of the components are good, i would then suspect a ground issue, which can create noise issues. Try doing the sound board ground mod.
I ended up having my sound board repaired. I had a similar issue as you did, which makes me think there might be still something wrong with the actual sound board.
The two boards that are beyond my repair skills are CPU and sound boards. Power supplies and driver boards I repair.
Someone else on pinside will most likely be experienced with these boards and might have insights.
This is one of the hardest machines to work on. I brought my back from the dead. Didn't power on at all.
While i do a 1994 Gottlieb which is probably the easiest machine i have to work on, Bally and Williams are what the rest of my machines are too.