Check that all diodes in the bridge rectifier are good and it is not acting like a half wave rectifier under load?
Sounds though like a ground or other voltage reference is floating around especially at the OPs.
Could just be a worn soldering joint especially if this is a single sided PCB which is what I assume from a 20 year old PSup.
Just re-solder the whole lot, shouldn't take longer than 10 minutes. Often the crack is very hard to see
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