Simplynuts, Joe knows what he's talking about!!
Vast majority of the time, those pots are the problem. Massive corrosion causes the pots to add resistance where none was ever intended. End result is the mid and tweeter are starved for current.
Cleaning the pots is problematical as often the wipers are corroded so bad that little metal is left on the wipers.
The mod below will repair the problem permanently and actually move you closer to a flat frequency response on modern media (CD's, MP3's, DVD's, FM, etc.)
Alternatively, if you really must have those controls, Roy has designed a very clever and a very cost effective substitute using 8 ohm L-pads:
Pot Solution
If you want to retain the ability to adjust frequency balance, Roy's solution is, IMHO, the best solution as well as the low cost solution. Modern pots, besides being very expensive, are often open in the back and I just don't like the idea of an exposed heat source in a closed box. Roy's solution will give you more than enough adjustment as typically you run the pots pretty close to full on. Final advantage is you lose essentially nothing in terms of power handling.
Hope this helps ....
Regards,
Jerry