wow, that is surprising because the solder job on the board looks like a 3rd grader did it.
With wires soldered to posts on the back side of a board, the fillet never looks pretty because of the non-uniform surface that is being soldered to. My boards are identical to yours right down to the same color/type of wire used.
The first is when I turn on my cab sometimes it boots into some kind of freeplay mode and sometimes it will go to regular mode. ie; will need coins to be inserted.
That's weird. In the picture it looks like your dipswitches A-D are set to "OFF" which should be the normal 1 coin = 1 credit setting. What happens if you set them all (A-D) to "ON" for freeplay? Are the results intermittent then? What about some of the other coin/credit settings?
Your boxer will seem choppy and flicker when the each round ends. Doesn't happen during the round though. It also seems to affect the opponents at the end of rounds when you lose the game. Also, the Game Over graphic does not appear correctly. Any ideas?
Does it seem like an interference issue or do you actually get corrupted sprites/graphics? If it seems like an interference issue, make sure you are running the board in its proper shield cage with its shield cover attached. Also make sure your board's card edge is clean, as well as the card edge connector on the harness and on the shield cage cover.
I assume you have already pulled, cleaned and reseated all of your ROMs?
Beyond that, I don't know much about diagnosing board issues. I can fix them once I know the problem of course, but as for diagnosing them, when I had the issue with the sound on my SPO board, I had help from a Nintendo of Japan engineer and the BYOAC member named "2600".