Steve Deckert
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OK, I see...
Since the tubes are not the problem or the speaker wires, it would have to be the amplifier. Most likely scenario is an output tube that partially or fully shorted causing the screen to plate resistor to become partially fried. This would result in reduced output and probably pretty poor sound as well.
It could also be a bad volume control, but that would have symptoms leading up to this result which you never mentioned.
Sometimes when an output tube shorts, we swap the tubes left for right to troubleshoot the amp and in so doing, begin to piss off the resistor in the other channel as well.
This resistor protects the amplifier from any serious damage. Alternately the same thing could be done with a replaceable fuse, as you will see in many amplifiers, but that would destroy the sound quality : (
This is just a hypothesis of course.
Steve
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