Quoted from Mbecker:No— a transistor is almost always good or bad. If it’s good - you won’t see continuity when you use your MM and put a probe on one leg of the transistor and the other probe on another leg. If it’s bad, the transistor shorts internally — the semiconductor inside becomes damaged and it will short closed (internally) between the at least some of the legs.
For BJT transistors ... this is not true (in my experience). A "bad" reading always means the transistor will not function correctly. A "good" reading does not mean the transistor will function correctly. In others you may get false positive measurements.
For FET transistors ... I don't have much experience but the experience I've had indicates the same as BJT. I've measured transistors as "good" but they don't work because when replaced with another new ("good") transistor the problem gets fixed.
Quoted from Huskerfan:... the red light on L201 50v and it is not lit.
Make sure the coin door is closed if there is a high voltage interlock switch installed.
Quoted from Huskerfan:Furthermore, the fix they say is to replace the board.
The board can almost certainly be fixed. If you're not experienced enough you can send it off to board repair person. There are a few reputable repair people on this site.
If you decide to replace the board I believe you want Rottendog SDB004. You can confirm this for yourself by visiting http://rottendog.us/sdb004.html to make sure.