Yes, it does seem like you have isolated the problem down to a physical intermittent.
There is a .047 cap between both sides of the AC line. Seems funny for it to be on the power switch, but heck I've seen funnier things. There should be another one on the common terminal of the polarity switch. Normally, the one across the powerline is also on the polarity switch, bridging both switched terminals.
If your controls are scratchy sounding, that could cause the problem. That would be my first guess.
My second guess would be the input jack connections to the preamp circuit boards, especially if it seems to happen, for example only when using the normal input but the brite input is fine.
What sometimes happens is someone decides to clean the controls, realizes the circuit board needs to be removed, and attempts to do so without removing the pin connections for the input jacks and treble boost switch. The input jack to board connections are the shortest, usually the yellow wire to the normal input jack and during the struggle to remove the board the female connector that slips over the pins gets bent out of shape or winds up with a split down it's side. Once that happens, they'll never make good contact again and they usually wind up having to be soldered.