Just thought I'd post a few issues and fixes I encountered with a recently acquired dedicated Gun Bullet (Point Blank) in case it's helpful for anyone else in the future.
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Issue: No sound, clicking from speaker.
Problem: Original Namco power supply block. The main power section pcb was completely burnt up, evidence of leaky caps, blown resistors, damaged/lifted traces, etc. Unsalvageable. Surprised the game even fired up. Apparently, these power supplies don't have a shutdown feature if components go bad. The fuse was fine.
Solution: Replaced with both a standard switching power supply and a separate 24v power supply for the gun recoil. Rewired the wires for 24v to the 24v supply, rewired the main harness to the switching supply (red to +5, orange to +12, black to ground). Dialed in the 5V to game and 24V to guns.
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Issue: No recoil in pink gun (1P).
Problem: After testing 24v and continuity, discovered the thermal fuse on the solenoid wrapped underneath tape went bad.
Solution: Replaced thermal fuse (2A 250V axial type).
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Issue: Guns not registering in game or in calibration mode.
Problem: Screen settings.
Solution: Adjusted and dialed in colors/brightness in test mode. Cleaned monitor, mirror and front glass.