Ok...so update time.
I bought a new PCB with soundboard off of ebay. I get it, plug it in and it doesn't work.
So then I tackle the arcade power supply...which was shot..so I ordered a new one. Got that it, plugged it in, set the voltages and fired it up! Lo and behold it worked!!
Here are two questions I have now, and hopefully someone can help.
The monitor is very testy sometimes, where it will get distorted and scroll up. If I hit the control panel it stops. The longer I had the machine on, it stopped and the screen was normal.
Second, the low kick and low punch, bottom two buttons on both players does not work. All other buttons and movements work perfectly, just those two bottom buttons on each player side. Any ideas on this one?? I went back to check where the wires terminated on the jamma harness. If you look at the pictures I posted above, you'll see 4 wires that have black electrical tape on them. Those are the 4 wires to the buttons in question. I tried to get two of them set up with wire nuts, but it still didn't work. Im going to go tomorrow to Radio Shack and pick up the real male to female connectors and see if that helps.
Thanks!!