I got this at a warehouse run a few weeks ago. The monitor turns on (bulb in the back glows, 'statics' on and off), the speaker comes on, and one of the coin lights comes on. I even got a new power supply, but alas, nothing.
mytik1 here on the forums has been helping me out. He gave me another JAMMA board to try out, and it gives similar results, but it seems like I'm getting nothing out of the speakers with that one.
He also let me borrow this:
http://www.arcademvs.com/testboard.htm (really awesome btw)
From here I can see that the speakers work and some of the joysticks and buttons are working. The 12v LED is lighting up. The -5v LED is not. Could this be the issue? Odd thing is, when I use a meter manually on the TESTBOARD, it actually shows -5v, yet the board says it isn't getting it. But when I manually test the SF pcb, it shows 0. So . . huh?
I've already (maybe) wasted $$ on a new power supply that didn't resolve the issue, and from what I hear good SF2's are worth just about 100 more than what I've already paid.

Anyone else want to chime in here? Anyone familiar with SF2's? This thing IS getting up and running, no matter what. Even if I have to MAME it.