Heh, well, no way would I be doing this without a desoldering station. So, picked up a cheapie Aoyue one which is doing ok I guess. Not as portable as the one you mention though.
So far:
Recapped power supply
Display 91v zener diode mod to extend life
Replaced all fuse holders on power supply
Diodes D7 and D8 replaced with 6A4 as they looked toasty
Removed and remote install of battery pack w/diode as this was pretty toasted. Thankfully didn't see any other acid damage on board.
Replaced R1/R4
All voltages out of power supply are now within good range...horray!
Replaced 40-pin female mpu/driver board connector cuz it was skanky
Replaced the 27ohm 3w resistors on driver board with 27ohm 5w as the old ones looked like they were on fire
Replaced dead solenoid rectifier on backbox
To do:
One of the 8 TIP42 on the driver board has black spot on both sides of board....blown?
Fuse the two backbox bridge rectifiers
Finish resocket of all chips with new SIP
Get the damn thing to boot......double LED (no blink)
Rebuild kit for flippers
new flipper solenoids
rebulb with #47's
touch up playfield
Play!