Getting closer figuring this out I think. Here's what I did just in case anyone has a similar problem down the road.
I replaced the 47uf caps at C15, C18, C34, C36, C38, and replaced the 1uf tantalum caps at C46 and C47. While I was at it, I also corrected R23 and R24 to 150k ohm from the 56k ohm that were originally in place. Finally, I read about adding a 4.7 ohm / 2 watt resistor to the backbox speakers to bring the mids and highs down a bit allowing more bass to the foreground... holy crap what a HUGE difference!!! I can hear Arnold much better, I'm hearing sounds in the game I didn't before, very solid (not cabinet shaking) bass, and I can keep the volume up around 9-10. Sounds are clear even at higher volumes. Before I'd have it at 7 and it was just noise.
It still gets a tad louder after warming up but not a dramatic difference as before and the sound isn't all high end nails on a chalkboard. I still have some poking around to do...