I rebuilt a similar one last week. There were a bunch of little things that I fixed, but the two that caused it to not work were:

1. Burned contacts: I took the "switch" stack apart and had to sand the contacts down quite a bit to get to clean material. It looked like they had gotten a little rusty, then tried to weld shut shut when someone held the button too long. They were badly scorched and pitted.

2. Cracked solder joints: The switch is soldered to the coil wires and with time and vibration one side was badly cracked and the other side was not looking good. I resoldered all of the connections.

With those two fixes, I was able to measure the resistance through it. Then I had to adjust the tone nut (which I am sure has a real name) to get it to cycle properly with the slightly different switch thickness.


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