Ok, I guess I am late to the party. Glad someone was able to use the schematics I uploaded to IPDB.
LED's work in this game just fine (I have a few installed in mine - not all, mostly in the areas where damage usually occurs from the heat of the bulbs (pop bumpers, etc)).
Free play is simple - you just jump out the "no credits" switch on the credit unit. You can see which switch opens when the reel hits zero - just jumper it out (I just used a short lead with alligator clips, easy to remove if need be).