Restoration complete!
Here's how it looks now, after lots of repairs to the board and the monitor chassis:


First post:
One of my producers at work brought in his Asteroids Cocktail for me to fix up and restore. He tells me he bought it from a guy who left it out in his alleyway, in the rain for 4 months, and ended up buying it off him for really cheap.
Afterward, it was stored in his basement for almost 6 years, giving it ample amount of time to dry out. During this time he didn't attempt to turn it on, in hopes that one day he'd meet someone to help him bring it back to life. Enter me -- a lowly animator with an arcade obsession.
I asked him to attempt turning on the power and see what the internal damage is like. He powered-up the machine and heard a Loud buzzing coming from audio hardware. Some good red LED on the boards came on, and the tube has glow. He said that one of the LEDs on the board was a bit flickery, so I'm sure the power supply is going to need a re-haul in addition to a mass capacitor swap, and re-soldering/flowing of all the connections. Definitely a long-term restore.
I'm actually quite impressed by the state of the cabinet, since it was exposed to the harsh rainy conditions of West-coast Canada for so long. There isn't really any wood damage, no chips or scratches. It just has a ton of rust, and dirt to clean up.
I think I can bring this baby back. As long as I can finish some of the other things I'm working on at the moment.
He plans on keeping it here at the office for us to enjoy (we work in the gaming industry, and there are a lot of young guys here that never got to experience the charm of playing asteroids on a real vector display).
Here are a bunch of pictures for you all to see:

Such a gorgeous looking cocktail, even in the shape it's currently in. I really love the design of these old Atari cabinets.

The previous owner didn't have the key to the lock, currently being held up by tape

Those scuff marks are actually left-over adhesive from the tape that was used. That'll clean up easily!

Side shots. As you can see, the profile looks good. No wood damage, or warping! Amazing. I'm assuming that the rainfall landed and trickled off the top onto the legs and missed the wood-panels. If it was in an alley way, it may have been protected by the wind as well, so i'm assuming downward water exposure is all that it endured.

The coin door is in ok shape. With all the metal parts on this machine, i'll have to take a wire-wheel to it all to clean up some of the erosion. I plan on taking the same technique I did with my midway coin door, and spray-paint it after stripping with a metallic silver. Turns out nice looking, as well as protected from additional exposure.

The glass clips are really rusted, and they're the incorrect ones! Looks like these are Midway cocktail clips. I'll clean them up and repaint anyways for possible re-use.
Also, the start buttons still look to be in decent shape. t-molding, not so much.

Here's a few closer shots of the legs. Rusty dirty McNasties! Also missing those square leg caps that I'll have to order from bobroberts or arcadeshop.


The underlay decals are fairly flaked. I know there is an underlay from Arcadeshop that I can probably get as a replacement. But what I saw, they're missing the Atari logo on the screen area. I might have to try to re-stencil it.

Shots of the atari logo and black monitor outline. Also notice the cardboard bezel is torn a bit. Gah, gotta replace that. For the outline, the Arcadeshop underlay has that included, so I can potentially strip off this paint with some wood-alcohol (like I did with my Canucks Cocktail).


Control panels. The CPO looks good, there isn't much needed done to them other than a cleaning. No cigarette burns woohoo! The buttons need a good cleaning though, or perhaps a replacement with shiny new ones.


Very little screen burn, just a faint image of the high score list and INSERT COIN. Hopefully I can bring the monitor back to life, and with such little burn, the tube looks to be good.

Innards.

Hello big blue! ...and eventually good-bye! First order of business will be to take the PS out of there and give it a good cleaning and recappin'.

Original Asteroids PCB. Looks to be in good condition. I didn't inspect it fully, but at first glance there wasn't any burns or damage that i could see. Just a lot of dust.

The sound board connections look shotty. Like all the internals, we're going to have to pull this out and fix 'em up!
All in all, there is a lot of work to be done to get this going. But it will definitely get a lot of use in the office, and it's a classic cabinet that deserves to be brought back to it's glory-days!
I plan on going full-boar on this one in the new year, and am going to hold off on my Robotron restore till I can at least get the internals working on this one.