+1 on Cody's reply - I think the EOS switch on the reel releases the 100/1000 point relay (whichever one is trying to roll over), which triggers the chime coil, however. I say that because if that gets stuck, then no switch that scores that amount of points on the PF will work while the EOS switch on the score reel is closed.
Your player unit sounds suspect with the Player 2 issue. When you press the credit button to add more players, the credit unit should decrease and that little red number at the bottom of the backglass should advance through 1, 2, 3 and 4. Then a switch on that unit opens to keep you from being able to add another (5th) player.
So then the game starts, and the player unit takes over. It is what moves through player to player as you work through a game. It works in conjunction with the ball count unit. Player unit is in the backbox and the ball count is on the motor board.
I would check all of the operations on the player unit for starters. Try manually advancing and resetting the player stepper unit in the backbox. It needs to be very clean and snappy, as there are a lot of contacts on that wheel that can bog its operation down if they get dirty. The clock spring on that player unit also needs to be adjusted just right in terms of tension to get a good reset and proper advancing.
Does the ball count unit work as it should in a one player game (e.g. moves through all 3/5 balls and then 'Game Over')? Sounds like it is ok at this point.
-scott