I'm finally getting around to working on my Outrun machine.  I've replaced all the parts in the bottom, including the power supply.  I hooked up the ps and nothing else, and adjusted it to 5v.  
After I plugged everthing else in, including the game boards, it didn't work, and I noticed that the ps output dropped to around 1.7v.  Is this supposed to happen, or do you need to adjust the power supply with a load, or could there be a problem with the power supply?
Thanks,
-S