If you are buying, you should go in with the assumption it means that the person wiped down the playfield, changed the easy to replace bulbs and rubbers that are broken and got the game working (hacks may be present).
A shop job should include at least (IMHO) -
- complete cleaning of the playfield (tear down if necessary but should be done)
- waxing/polishing of the PF
- new rubbers everywhere
- all bulbs replaced and working
- ramps and plastics cleaned and polished
- new balls
- hacks repaired
- electrical gone through to make sure everything is 100% working in the fashion it should be (no hacks)
- switches adjusted
- inspected (and unless the machine is new) rebuild flippers mechs and coils
I'm sure there are things I'm missing and others that some people thing is pasted "shopped" and down the line of "restore" but this is my view on the term "shopped".