The problem has been verified on FM, AM and AUX inputs. (I don't have a working record player to try "phono"
Headphone jack sounds a bit louder when at full volume, but not really "loud."
FWIW, when I patch my headphones to the tape out jacks the volume is very low... significantly below line level output of say my ipod when it's in it's dock.
Also, this little fuse-like-unit is tiny (like just a hair larger than the dancing banana icon)... it's really weird to me that there is no label indicating the specs for the "fuse" on the holder or the "fuse" itself. Also the holder does not lend it'self to replacement, I had to pry metal tabs away from the unit to get it out, and they don't spring back in.
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Now for some hopefully unrelated info: channels cut out at low volumes, it's the right channel on speakers and left on headphones (but yes, they are wired correctly, as verified by toggling the "balance" knob.
My deoxit work is so far not complete, I have only done the volume pot, none of the jacks, switches or other pots.
Now for the weird part: when a channel is cutting out (at low volume) it comes back if I increase the treble control. (The tone does not seem to be distorted when the cannel is cutting out)