Well, I've finished swapping out all the capacitors in the PSU. After temporarily
covering it back up and plugging it in, I've got all the correct voltages. 12 VDC,
-5 VDC and 5 VDC with no load. However, as soon as I turn the coleco on the
12v rail drops to 6v again. So, either my PSU is just bad or something else is
wrong...
Any Ideas? I guess ill check the video ram as suggested by cdn2a
Here is an album of pictures I took while swapping out the caps.
http://smg.photobucket.com/user/beaverbandit/library/Colecovision%20PSU%20Capacitor%20swap
Sample pic: