Checking TransformersTo check the power transformer, unplug all tubes, plug in a speaker or resistor load, and turn the amp on. If the fuse blows the PT is bad. If it doesn't blow, then shut it off, put the rectifier tube in, and try again. If fuse doesn't blow, shut amp off, put the rest of tubes in, and turn it on again. If fuse doesn't blow, you're good to go. If fuse blows in either of the last two tests, then you have a socket problem, a tube problem, or a problem with the circuitry around the given tubes. If the PT works, then play the amp. It should work fine from here as the OT and choke rarely fail.
Checking/replacing capsThe electrolytic caps should be replaced. The amp will perform much better with new caps than with old, drifted or leaky caps. You can replace the can with a stock replacement can, which you can get from
www.tubesandmore.com . It will work, but with today's wall voltages, the voltage on that cap is over it's ratings and it's life will be shortened. A better solution is to use discrete caps. You can get the 600v Spragues but they are very large and hard to fit in the amp, and are WAY overpriced for what they are. A better approach is to use series-connected 350v caps, which give you a 700v rating. Use this setup for the first two filter stages, and a 500v cap for the third stage, and a 450v or 500v cap for the 4th stage. When wiring caps in series, the uf value is halved while the voltage rating is doubled. I've used 220uf 350v caps in Sunn bass amps for the first stage and 100uf 350v caps for the second stage. This translates to essentially a 110uf 700v cap, and a 50uf 700v cap respectively. You can go with close to stock values but the amp will hum less with larger caps, and the bass response will be quicker and more present. When wiring caps in series, do not forget to add a 220k 1w resistor in parallel with each cap. These allow the caps to share the voltage instead of one cap trying to hog it all and blowing.
The coupling caps generally do not need to be replaced unless they are poor quality or leaking DC. The brown drop caps as used in many Sunns were not the best quality (their ESR is high) so most any modern replacement will be better than them. Likewise the green Cornell-Dubliers aren't the best and most modern ones will be better. The Black Cats sound great and should be left in circuit unless they leak DC. They are paper and polyester caps so if they do leak DC, it would not surprise me. Paper caps attract water and generally will leak, especially when old. You said you were checking the caps? How were you doing this? Checking for value with a DMM won't get you an accurate reading since you are not checking the caps anywhere close to their rated voltage. The only way you should check them is for DC leakage. Anything more than about .3v on a coupling cap can cause the following stage's bias to be off so a cap that leaks more than about .3v should be replaced. To check for leakage, unsolder the low voltage side of the cap, hook your meter to the lead that is in the air and the other lead to ground, and turn the amp on. The voltage should spike and then gradually reduce. When it seems to stabilize a bit, then that is the DC leakage.
Other Things
All of the power resistors should be replaced with 2w metal oxide or metal film. The carbon comps can burst into flames in a failure condition and they contribute nothing to the sound in this position. These are the dropping resistors in between the filter cap sections in the power supply. The death cap should be removed and the ground switch disconnected. The amp should be rewired for a 3 wire power cord, with black coming into the amp, then going through the fuse, then the power switch, and then to the transformer tap. The white wire should go directly to the transformer tap. The green wire should be soldered to a solder lug and hooked under a PT bolt to the chassis, seperate from any other ground. The plate resistors for the preamp and phase inverter tubes should be replaced with new carbon comp resistors. These go bad with age and will crackle and pop. If you replace the sockets, ceramics will work, but many other types are easier to tension and work just as well.
www.tubesandmore.com has a nice selection. Get some JJ KT88's and fire itup. These work well and sound great. It will make a great bass amp stock, and an even better one if you go with larger filter cap values in the first two stages. You can also change the 3rd and 4th stage to larger cap values, but this will change the sound there as these stages are RC coupled. The first two stages are not so it only changes the feel if you go with larger cap values here. If you intend to use this amp for guitar, it will work fine and you may like the sound too, though for my tastes, I don't like any of the Sunn tube amps for guitar. They are loud and clean, and the clean is brittle and hard. It could be modded to get a nicer sound for guitar, but if you're going to go to all that trouble, why not get a different amp? Anyway, hope that helps and enjoy!
Greg