If your preamp or power amp uses tubes, it could be that one of the tubes is weakening and reducing its output. Have you tried reversing tubes from each channel? It could be a phono cartridge going bad in one channel. Have you tried reversing interconnects upstream, such as those between your preamp and power amp, and between source components and your preamp? If you could isolate which piece it is, it would make it easier to fix the problem.
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