Sweet! AB was the first modern 16-bit game I purchased on a console. I didn't realize it was an arcade title. I would love to get that cabinet.
Now that the envy is over, here's my two pence.
I found
some information about what you're describing. (I'm disappointed to see Golden Axe on that list). If that's the fix, how do you pack a Z80 into that? The Z80's I have lying around are square with the same number of pins on each side.

Also, the problem you're describing with the monitor sounds like the same problem I have with one of my monitors. I asked a repair shop about it and they gave me this line of ---That which is odiferous and causeth plants to grow--- about how there's a slow leak in the tube and the air is causing the gun to go out of focus. Told me to dump it and tried to sell me another for about $500 (this was about 15 years ago). That said, do you have any way to test the monitor separate from the PCB so you can isolate the problem properly? I'd attack it by separating the two and testing them, but I'd like to see how the more experienced people here on the boards would attack it.