Hmm, after double checking the manual I can't seem to find anywhere that says how much is coming off of the signal post. Guess I made it up

And as you said, it's hard to actually check it.
But yes, there are three posts in all. Signal, 25VAC and GND.
From the manual it states:
The Wall-)-Matic operates at 25 volts AC, 60 cycles. Power is supplied by the Power Supply Unit (which I have built) Two of the three wires of the interconnecting cable carry power to the lights and motor. The other wire and one of the power circuit wires comprise a selection circuit to provide remote control of the operation of the selection system in the phonograph.
So what I get from that is that the signal post will effectively act as a relay and send short spurts of 'pulses' which we should be able to read from a serial port somehow.
But then again, maybe I'm reading that totally wrong.